Corporate Trustees and wills

I have a SMSF with a corporate Trustee.

When drafting a will, is it necessary to provide for the transfer of the shares in the corporate Trustee to my legal personal representative, or does the power to vote these shares transfer automatically to my LPR on my death?

A: Thanks for your question.


You shouldn’t need to do anything in your will.


Your corporate trustee company can only act as a trustee (it cannot own any property beneficially - this will normally be a clause in most company constitutions), and upon your death, your LPR will automatically be able to exercise your rights as a Director of the company.



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