My family originally came from Turkey and many of my family members still live there. The trust I am setting up has a different trustee to the appointor and beneficiary. The trustee lives in Australia while the appointor and beneficiary are still living in Turkey. Is this legal?
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
- Yes. This trust will be valid providing that the trustee is in Australia and you are happy for the trust to remain resident in Australia.
- It is possible that the appointer will remove the trustee and appoint a new trustee at some point in the future.
- If the new trustee is not in Australia this may affect the continued validity of the trust.