Controlling assets – without owning assets
Family Trusts are a well established and popular component of the financial and legal arrangements for successful people who wish to better manage their family’s assets and finances. A Family Trusts enables you to be Controlling assets – without owning assets.
Are your personal and financial affairs organised? Have you obtained advice as to what will happen to your family when that “unexpected” event occurs. Although you may think that an accident or an illness or some financial misfortune is unexpected – statistics tell us that such events are to be expected by a significant portion of the population.
The likely consequences of failing to act will be to create havoc for your spouse and dependants.
You can take action to protect you and your family from the unwanted consequences encountered when illness or injury throws out all your well intentioned plans and dreams.
Review your circumstances and take whatever urgent action is needed.
Family Trusts – controlling the future
The Family Discretionary Trust
In conjunction with advice from your Accountant, a family discretionary trust can be a useful structure to hold some of your assets to provide for the current and future needs of your family.
Asset protection is a broad concept designed to prompt you to consider your current circumstances, and identify areas of risk which can be addressed. It can be particularly useful in assessing your circumstances before your next asset purchase. A consideration of family trusts and asset protection will also involve a consideration of the benefits of Superannuation.
Company as the Trustee
One of the key roles within the Family Trust is that of the Trustee. The Trustee manages the trust and makes all the decisions regarding the activities of the Trust. It is often recommended that a company be established to act as the Trustee, rather than individuals.
We can establish the company on your behalf – including dealing with ASIC.