Discretionary trusts continue to be the preferred investment and trading vehicles for most family groups and business owners due to their tax effectiveness, flexibility and ability to preserve wealth. Whilst establishing a trust can be simple, some fail to consider long term strategies to maintain and maximise asset protection opportunities.
Most often, issues can arise where:
1. income of the trust is appointed or distributed to ‘at risk’ individual beneficiaries; or
2. valuable assets are held in a trust which operates a business and, as a result, are exposed to potential trading risks.
The Asset Protection for Family Trusts
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