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February 2010
One of the critical issues for trusts and estates is the role of the Executor and Trustee. There are a number of Trustee Companies that provide services to private clients and organisations to administer trusts and estates. These are subject to complicated laws. Currently, there is draft legislation to amend the Corporations Act 2001 to change the regulation of Trustee Companies in Australia.
By agreement between the States, this will come under control of the Commonwealth rather than individual States and Territories and create consumer protection in a national framework of trustee services.