I have been a trustee of a family trust for several years but it is getting more difficult for me and I would like to hand over my responsibilities. How can I do this?
Lawyer Answers (1): Answers from lawyers are general preliminary responses. They are not formal legal advice and cannot taken account of all your circumstances. They do not create a lawyer–client relationship.
Answer by LegalEagle™ staff, Melbourne 3000 VIC
- You should first refer to the trust deed. There may be conditions contained in the deed that allow the nominated appointer to transfer the trusteeship to another trustee.
- Alternatively you can approach a public trustee to take over the role on your behalf. Public trustees are generally very experienced in managing trusts and can take a lot of the difficulty and hassle out of overseeing complex trusts.