Which document should be used in upgrading an old family trust deed?
If you want to keep family assets in the families name, it is suggested to upgrade to Leading Member just so there is that line of succession.
Also, so long as no parties in the trust and no properties are foreign you can use any document that are for Non-Foreign Person.
What is the difference between the Non-Foreign and the normal documents?
The only difference is that for Non-foreign person, there is a limitation on non-citizens or permanent residents of Australia. It ensures that no parties can be a non-citizen to avoid excess taxes, stamp duty, etc.
Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact LY Legal through the Surge App.
Last Reviewed: 08/08/2025
Last Updated: 08/08/2025