UNIT DISCRETIONARY & FAMILY TRUSTS

Steven M Clark Lawyers can assist you with structuring your business or investments through discretionary and family trusts.

Trusts can be used:

  • as a legitimate 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.

The most popular type of discretionary trust is the family discretionary trust. A trustee (frequently one of the family members) is appointed to hold the assets of the trust in their name for the benefit of a group of beneficiaries. Although one or more person can be elected as trustee, so too can a company. Appointing a corporate trustee 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.

Steven M Clark Lawyers can assist you with:

  • Drafting of the original Trust Deed or Deeds varying it
  • Reviewing the Trust Deed to ensure it complies with financial and trust-related legal requirements
  • Liaising for your accountant to make suitable arrangements
  • Advice for structuring your trust in ways to minimise the chance of claims being made under family law or debt recovery proceedings.
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Contact us about your situation today.

Call (08) 8522 6025 or email law@stevenmclark.com.au to find out more or to arrange a consultation with one of our experienced Gawler trust lawyers.