What trusts documents need to be prepared when the corporate trustee of a trust changes its name? And could changing the name of the trustee company cause a resettlement of the trust?
We believe that it should be fine to change the name of the corporate trustee, without any adverse consequences for the trust.
As the company itself will be remaining as trustee of the trust and only its name will be changing, we don’t think it should be necessary to prepare and documents for this change. When the company receives its certificate of name change from ASIC, a copy of the certificate should be kept with the trust deed to show that the trustee’s name has changed.
Note that some banks may insist on a deed on confirmation or similar to confirm that although the company name has changed, the trustee of the trust remains the same. We think this shouldn‘t be necessary, but can assist in this regard if so requested (our fee to prepare a deed of confirmation would be $350).