Trusts are widely used for investment and business purposes. A Family Trust is a type of trust created to benefit persons who are related to one another by blood, friendship, or law. It can be established by a family member for the benefit of the members of the family group.
Family trusts were originally used by wealthy families to minimise tax obligations. They are now becoming very popular due to the many blended families that exist, to protect family assets from passing to non related person or to cater for drug effected or disabled members of the family that cannot manage money, so that the funds are utilised in the best possible manner.
We can assist you to set up a Family trust within days of receiving your instructions.
Some common reasons people may seek to establish a family trust:
Family trusts could provide benefits related to taxation, asset protection and estate planning and are generally considered the next most popular investment vehicle in Australia after superannuation. Family trusts can provide many advantages but when done poorly can create unnecessary risk and expense. Let us help you get it right the first time.