Wondering whether accountants or lawyers should prepare Trust Distribution Resolutions?
In the first instance, please refer to the ATO website here: Trustee resolutions | Australian Taxation Office (ato.gov.au)
The ATO makes it very clear that:
- Trustees can make Resolutions, and
- There are numerous tax considerations to be made.
The accountant is the logical and best advisor to assist Trustees with their Resolutions.
Legal document providers (for example Dr Brett Davies from Legal Consolidated in Perth, LightYear Docs, etc) provide Trust Distribution Resolutions for Accountants to use, as does ChangeGPS.
Timothy Munro (CEO + Founder of Change Accountants & Advisors) is 100% comfortable preparing these documents. They are merely resolutions confirming decisions made, and they are definitely NOT the drafting of legal advice or the giving of legal opinion.
If accountants choose to not do this – we recommend Legal Consolidated Family Trust Distribution Statement - build on law firm website. Free advice (legalconsolidated.com.au). You can purchase Trust Distribution Resolutions from them for $178 per Trust and they give legal signoff and a letter to your client confirming everything.
Alternatively, use the ChangeGPS Trust Distribution Resolution advice tools and system available in Core plans to offer this service direct to your client.