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

Answer:

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.

Answered by Lachlan McKnight

Lachlan is the CEO of LegalVision, an innovative and tech-driven law firm. LegalVision is disrupting Australia and New Zealand's legal industry and transforming the way in which businesses access legal services. He previously worked as a corporate lawyer and investment banker in London, Paris, Amsterdam and Hong Kong. Lachlan specialises in banking and finance, capital raising and startups.

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