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What are the advantages of operating a business as a discretionary trust?

A discretionary trust, otherwise known as a family trust, can be used to protect assets, limit liability, distribute income and minimise tax. A trustee controls the distribution of income/assets to the beneficiaries in accordance with the trust deed. The discretionary element of this kind of trust means that it gives you flexibility with opportunities for income splitting and optimising tax benefits.

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Lachlan McKnight

Lachlan McKnight

CEO

Lachlan is the CEO of LegalVision. He co-founded LegalVision in 2012 with the goal of providing high quality, cost effective legal services at scale to both SMEs and large corporates.

Qualifications: Lachlan has an MBA from INSEAD and is admitted to the Supreme Court of England and Wales and the Supreme Court of New South Wales.

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About LegalVision

LegalVision is an innovative commercial law firm that provides businesses with affordable, unlimited and ongoing legal assistance through our membership. We operate in Australia, the United Kingdom and New Zealand.

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