What Is a Family Trust?
A family trust is an agreement where a person or a company agrees to hold assets for others’ benefit, usually their family members. It is often set up by families to own assets. A family trust is also known as…
A family trust is an agreement where a person or a company agrees to hold assets for others’ benefit, usually their family members. It is often set up by families to own assets. A family trust is also known as…
A discretionary family trust is a type of trust. It involves the trustee having the discretion to distribute income or trust property to beneficiaries. As a common business structure, particularly in small business, this type of trust is generally established…
Are you looking at operating your business through a trust? Have you decided who will be the trustee of the trust? A trust cannot operate business and it cannot enter into contracts. Every trust requires either an individual or a company…
A trust is a relationship where a trustee (an individual or a company) carries on business for the benefit of other people (the beneficiaries). A trust may be discretionary, which is where the trustee decides how profit will be distributed…
A trust is a legal structure that allows one or more people (or companies) to manage property for somebody else’s benefit. Trusts are an excellent way to manage your tax and protect your assets. Likewise, owning your business through a…
Family-run businesses commonly use trusts for a few reasons: As a way of protecting personal assets; For the various tax benefits that trusts incur; and To keep the business ‘in the family’ for future generations. However, it is important to…
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