Trust Succession & Continuity Planning Checklist
TRUST SUCCESSION & CONTINUITY PLANNING CHECKLIST
Entity: {{client_name}} · Registration: {{trust_reg_no}} · As at: {{period_end}}
A trust's governing document should provide clear, workable mechanisms for what happens when a trustee resigns, is removed, becomes incapacitated, or dies, and for how the deed itself can be amended as circumstances change. Gaps here are rarely noticed until the moment they matter — this checklist tests the deed against that scenario in advance.
A. Trustee Appointment and Removal Provisions
| Test | Result / Reference |
|---|
| Deed specifies who has the power to appoint a new trustee (settlor, existing trustees, a named committee, etc.) and by what process | |
| Deed specifies grounds and process for removing a trustee (misconduct, incapacity, conflict of interest, prolonged absence) | |
| Minimum and maximum number of trustees specified, and current trustee count within that range | |
| Process exists for a trustee's voluntary resignation, including notice period and handover requirements | |
B. Quorum and Decision-Making
| Test | Result / Reference |
|---|
| Quorum for a valid trustee meeting specified in the deed, and meetings during the year met that quorum | |
| Voting mechanism for trustee decisions specified (majority, unanimity for specified matters, casting vote of chairperson, etc.) | |
| Provision exists for decision-making if the trust temporarily falls below quorum (e.g. due to a vacancy) | |
C. Deed Amendment Procedure
| Test | Result / Reference |
|---|
| Deed specifies whether and how it can be amended (some trust deeds are deliberately irrevocable/unamendable as to core objects — test which applies here) | |
| Amendment process, if permitted, includes the approvals required (all trustees / specified majority / settlor consent while living, etc.) | |
| Any amendment made during the year properly executed, registered (if the trust type requires registration of amendments), and does not conflict with 12AB registration conditions | |
D. Emergency / Incapacity Scenarios
- Deed addresses what happens if ALL trustees simultaneously become unable to act (a genuine, if rare, continuity risk for small family trusts).
- Deed addresses succession where a trustee position is tied to a specific family role or office (e.g. "eldest descendant") and that line becomes unclear or disputed.
- Beneficiaries or a court-appointment mechanism identified as a fallback if the deed's own succession mechanism fails.
E. Conclusion
Overall conclusion on succession and continuity planning adequacy, and any gaps recommended for the trustees' attention: ____________________________________________
Prepared by: __________ Date: 31 July 2026 Reviewed by: __________ Date: ____________
