M J Heywood & Co
Chartered Accountant
 

Address:
Suite 407
1 Princess St.
Kew, Vic. 3101

Phone:
613 9853 1234

Fax:
613 9853 1023

Email us

Liability limited by a scheme approved under Professional Standards Legislation

 Latest Accounting News Service
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Articles
Reduction to Minimum Pension Drawdowns for 2008/09
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Appointor – what does this mean?

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Appointor – what does this mean?

An appointor is a person with significant influence in a typical family trust. The primary role of an appointor under a trust is to “hire and fire” the trustee of the trust.


Thus, the appointor is the one who ultimately has practical control over the trust and careful consideration is needed before deciding who becomes the appointor.

In a typical family trust deed, the appointor may only be mentioned by what seems to be an afterthought, but the role is of great importance.

The capacity to remove a trustee, replace a trustee, reject a trustee’s appointment can be paralleled to the ultimate power of a company’s shareholders.

Implications of ownership therefore flow for income tax and Centrelink purposes.  An appointor should ensure the role is passed on to the most appropriate person via their will.

 

25th-February-2009