Family Trust (Discretionary Trust)

Trusts are often poorly understood by those looking to start their own business or currently operating an existing business. However trusts are actually very straightforward and their use can deliver significant benefits to your business.

To find out more about how Australian Shelf Companies can help you please get in touch today or get started by submitting your details. Once you have filled out this form online one of our team will be in touch to assist you further.

Online discretionary trust form  Download discretionary trust form

There are several types of trusts. A family trust also known as a discretionary trust contains four main components;

  1. a trustee,
  2. a trust deed,
  3. beneficiaries, and
  4. an appointer.

The trustee exercises discretion over how the trust is run including the investments and debts the trust takes on and also how the income generated by the trust is distributed. The trustee may be a company, sole trader, partnership, or individual.

The trust deed stipulates how the trust will operate.

The beneficiaries of the trust are the individuals who have been nominated to receive income or incur the expenses of the trust. Finally, the appointer appoints the trustee and has the ability to replace them at their will.

The interaction between these trust elements is illustrated below.

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Example

David and Tom decide to operate their restaurant using a discretionary trust where David acts as the trustee and they are both beneficiaries. The restaurant’s assets are owned by the trust and David as the trustee decides on how the income they generate is distributed among Tom and himself.

To set up your family or discretionary trust we strongly recommend seeking expert advice from one of our business advisors.

How do I arrange a consultation?

This can be done face to face, by skype or by phone. Having a consultation with on of our experts, this will give you peace of mind that your assets are protected and you have the correct setup in place going forward.

Our expert partner team of Business and Financial Advisors can also help with many other services to ensure your business venture is a success and profitable, including:

  • ABN / TFN / GST / PAYG Advice and setup
  • Business coaching and growth solutions
  • Business plans
  • Shareholder agreements
  • Investment strategies
  • Capital raising
  • Business and equipment finance
  • Marketing strategies plans
  • Bookkeeping software setup, training, and advice
  • SMSF setup advice including properties, bare trusts and investments

To get started, please click the button below to enter your details. One of our team will be in touch to help you soon.

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