Variation of Discretionary Trust
Create your document of Discretionary Trust terms quickly with instant document builder of Lawpath. Create quality documents easily. Try it now!
Last updated November 18, 2025
Suitable for Australia
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Frequently asked questions
Use this Variation of Discretionary Trust if:
- A discretionary trust has previously been established;
- The trustee is permitted to amend the trust deed; and
- The changes to the trust deed are to be formalised, as set out in a deed of variation.
What does the Variation of Discretionary Trust cover?
- The changes to the trust deed; and
- Relevant consents and other consequential terms.
Other names for Variation of Discretionary Trust include:
- Deed of Variation of Discretionary Trust; and
- Change of Discretionary Trust.
Further information
View Sample Variation of Discretionary Trust
The Legal Risk Score of a Variation of Discretionary Trust Template is High
Our legal team have marked this document as high risk considering:
- Amendments made to the trust deed might inadvertently affect the interests of beneficiaries who were previously entitled, despite stipulations intended to prevent such outcomes.
- The document allows for alterations to the trust deed which, if not carefully considered and executed, could potentially conflict with existing laws or rules, such as those against perpetuities.
- The document generally deals with large amounts of asseys and could have tax implications.
Users familiar with trust operations and the specific terms of the original trust deed are likely to navigate these risks more effectively, but should still proceed with caution and consider seeking professional advice to ensure the changes align with legal requirements and their personal or fiduciary goals.
Articles about Variation of Discretionary Trust
Variation of Discretionary Trust Sample
A Variation of Discretionary Trust allows you to change the terms of an existing discretionary trust. Customisable and ready to use in under 10 minutes.
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Article about terminate-discretionary-trust
Shorten’s Crackdown on Discretionary Trusts
If you are a small business and are using a discretionary trust to manage your financial affairs, watch out. Shorten’s tax revenue raising plan may come as bad news.
Advantages and Disadvantages of a Discretionary Trust (2024 Update)
Discretionary trusts give a trustee discretion when distributing trust property. Find out the advantages and disadvantages here.
Potential Changes to Discretionary Trusts
Important changes that will affect anyone who is currently, or intends to become, a trustee of any discretionary trusts in New South Wales.
A List of the Key Parties to a Discretionary Trust
A discretionary trust means a trustee can choose not only who benefits, but how they benefit from the trust. Read about the parties involved in this guide.
Can A Trustee Be A Beneficiary Of A Discretionary Trust?
Have you ever wondered whether a trustee can be a beneficiary of a discretionary trust? Check out this article to find out.
How to Change the Trustee of a Discretionary Trust
Changing the trustee of a discretionary trust may be required for a number of reasons. In this article, we break down how to do so and its affect.
Discretionary Trusts vs Unit Trusts (2025 Update)
When establishing a trust, it's important to know the different types. Find out how discretionary and unit trusts work here.
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