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.