Legal advice for superannuation, testamentary trusts, discretionary family trusts, unit trusts & fixed trusts
When it comes to setting up a trust, whether it’s for you, your business, an investment, or for your family’s financial affairs, Butcher Paull & Calder’s specialist family trust lawyers, can do this quickly and efficiently. Contact us with your requirements, let us know what you need, and we’ll devise a cost-effective practical solution.
Companies & trusts
We have set up thousands of companies and trusts over the last 30 years and this continues to be an important part of the work we do. We can set up a trust to suit your requirements and manage it for you.
Discretionary Family trusts
We can establish a family trust with a corporate trustee. The trust structure allows your income to be spread so as to reduce your tax. The trust structure also provides asset protection if a beneficiary goes bankrupt or liquidates his/her business.
Testamentary trusts are used to provide for your children and/or other beneficiaries after your death. This is an effective estate-planning mechanism that allows for greater control over the distribution of your assets, in addition to numerous tax advantages.
A fixed non-geared unit trust may be essential where your self-managed superannuation fund invests in a related unit trust in order to comply with superannuation laws. Fixed trusts allow trustees to hold onto any assets for distribution to beneficiaries in fixed amounts. Each beneficiary will be entitled to a fixed amount or share, as stipulated in the trust. However, it may also be possible for the trustee of your self-managed superannuation fund to invest in a fixed unit trust where the trustee can borrow money and offer underlying assets as security.
Superannuation funds act as trusts and need to be set up by knowledgeable trust lawyers. In Australia, a large percentage of the country’s wealth is invested in the superannuation system as there are numerous tax benefits to using this investment tool.
However, there are many complex rules and regulations used to control these trusts and protect personal assets. It is therefore important to deal with lawyers experienced in superannuation trusts. Contact us and find out all you need to know on the subject.
Child maintenance trusts
When families break up, setting up a child maintenance trust will ensure the financial wellbeing of your child/children and provide tax advantages because the child will be treated as an adult for tax purposes. This type of trust is used by high-net-worth individuals and is not practical for everyone.
There are many types of trusts that can be set up. Before you make any rushed decisions, talk to your trust lawyers at BPC about:
- Testamentary trusts
- Will trusts
- Special disability trusts
- Family discretionary trusts
- Subscription unit trusts
- Fixed non-geared trusts
- Bare trusts
- Declarations of trust
- Child maintenance trusts
Enduring Power of Guardianship
An Enduring Power of Guardianship is when you appoint someone to handle your personal lifestyle and treatment decisions on your behalf should you ever become incapable of making these decisions yourself.
Enduring Power of Attorney
This is a legal agreement whereby you appoint someone to make property of financial decisions on your behalf, should you ever become incapable of doing so. This is related to mostly business and financial decisions, unlike the Enduring Power of Guardianship above which is more personal in nature.