Advisers, when your clients hold property through a unit trust, their estate plan needs special attention. Upon the death of a unitholder, decisions around maintaining or liquidating trust assets become complex. These decisions will impact the surviving spouse, children, and other unitholders.
It's critical to understand the terms in your client’s Unit Trust Deed or Unit Holders Agreement and plan for the valuation and transfer of trust units. Without clear protocols, there could be disputes over asset valuation or difficulties in selling units to existing unitholders.
Key considerations for advisers:
Determine the value of trust assets.
Review your client’s trust deed for protocols on unit transfers.
Plan for scenarios where other unitholders cannot afford to buy out your client's interests.
Note: Always consult with a lawyer before making any changes to a unit trust or estate plan to ensure compliance with legal requirements and protect your client’s best interests.
Inherit Australia provides advisers with a structured estate planning facilitation process to ensure that client interests and wishes are maintained as part of their estate plan.
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