Preston More Cairns can assist you with structuring your business or investments through discretionary and family trusts.
Trusts, if used correctly, can be very useful. Our team of Cairns Trusts Lawyers can discuss with you the many uses for Trusts and what the best Trust structure might be for you, your family or your business.
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
- 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
- To protect disabled persons (Special Disability Trusts)
Family Trusts Cairns
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’s Trust 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.
Please contact us today to discuss your many options when it comes to Trusts. Our Cairns Trust Lawyers are a call away.