The new Trusts Act 2025 (Qld), which starts today – 28 April, brings welcome changes for estate planning, trust administration, and fiduciary practice across the state.
Replacing the outdated 1973 Act, practitioners are advised to review and update existing trust deeds, revise precedents and internal templates, and brief clients on the changes.
Attorney-General Deb Frecklington said the new legislation addressed issues that had been apparent for more than 50 years.
“These changes are important and have been developed in consultation with legal, charitable and trusts stakeholders,” Ms Frecklington said.
“The changes grant trustees broader powers to deal with trust property while also delivering enhanced protections for beneficiaries.
“The new laws also make it easier for eligible trusts to vary their purpose when the original charitable intention can no longer be fulfilled, through a practical and lower-cost option that does not require going to court.
“These reforms have been a long time coming, and I am proud to be part of a government who has delivered a new, modern Trusts Act for Queensland.”
Titles Queensland has also advised of updates to the Land Title Practice Manual, incorporating changes in the new Act.
The updates include:
- new requirements when recording more than four trustees on title; and
- no limitation on the term of a lease granted by a trustee.
The following forms have been updated to reflect changes in the Trusts Act 2025:
- Form 4 – Request to record death; and
- Form 20 – Trust Details Form.
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