Family Trust - Overview

A Family Trust (also called a Discretionary Trust) is one of the most common small business structures in Australia. Unlike, say a Unit Trust, you establish a Family Trust to benefit the members of a family. Family Trusts provide families with a great deal of flexibility in sharing the tax burden among family members and protecting family assets.

The Family Trust structure is useful if your family holds capital growth or income-generating assets. Some of the key attributes of the Family Trust are:

• Prepared for asset protection purposes. It helps protect from bankruptcy and insolvency
• It is a relatively low cost and simple structure to use
• It allows you to distribute income to family members who are on low tax rates
• It allows you to stream income: you can distribute one type of income to one person and another type of income to another person
• Works in every state of Australia

A Family Trust can operate for up to 80 years.

More questions? Feel free to start building a Family Trust and reading all the hints. You can read all the hints for free. You can go through and answer all of the questions for free. You can read the Summary for free. Only at the end of the process are you invited to purchase this document.

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