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.
G&B Lawyers can assist you with:
- Drafting trusts
- Reviewing trusts to ensure they comply with financial and trust-related legal requirements
- Advice 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.
Speak to the experts at G&B Lawyers.