Is a Discretionary Trust required to have a Settlor & What does a Settlor Do?

Yes, your Discretionary Trust must have settlor to enable the trust to be established.  The Settlor is a person who makes a gift of money to set up the trust.  This person cannot be a beneficiary of the Trust and must not hold another role or office in the Trust.

What is the minimum settled sum?

The standard minimum settled sum is $10.00

Do I have to name an appointor and what does an appointor do?

No, you don't have to name an appointed however a Discretionary Trust must have a mechanism for the removal and appointment of a Trustee.  The appointor has the power to remove a Trustee and appoint a new Trustee. The appointor should not be the same person as a Sole Trustee.

Do I have to have a Trustee and what does a Trustee do?

Yes, you must have a Trustee for any form of trust.  The Trustee owns the Trust Property , but owns it only for the benefit of the Beneficiaries, Unitholders in a Unit Trust are the beneficiaries of a Unit Trust and the Beneficiaries of a Discretionary Trust are the named Beneficiaries.

What is the minimum number of Units a Unit Trust can have?

Minimum number of Units is one.

Can I change of the name of my Deed?

Yes, you can.  This is done by a Minute of the Trustee (s) or simply call us to prepare same for you.