By: Preston More Solicitors  20-Dec-2012
Keywords: Self Managed Superannuation, Asset Protection, Family Trust

Preston More can assist you with structuring your business or investments through discretionary and family trusts. Trusts can be used as a tax minimisation strategy; as a means of providing shared income for family members; to minimise the risk of creditors making a claim against your assets; and to place valuable assets out of the direct control of individuals at risk of making poor decisions that may affect a number of stakeholders involved. One type of discretionary trust is a family trust. A trustee (frequently one of the family members) is elected to hold assets in their name for the benefit of a group of beneficiaries. Although one or more person can be elected as trustee, so to can a company. This is beneficial in terms of avoiding difficulty experienced in situations such as the death of a trustee, or in circumstances where a trustee is declared bankrupt. Preston More can assist you with: 1. Drafting trusts 2. Reviewing trusts to ensure they comply with financial and trust-related legal requirements 3. Advice for your accountant to make suitable arrangements 4. Advice for structuring your trust in ways to minimise the chance of claims being made under family law or debt recovery proceedings. Give us a call today so we can simplify this very complex legal area.

Keywords: Asset Protection, Discretionary Trust, Family Trust, Self Managed Superannuation, Special Disability Trust, Trust Advice,

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