Discretionary (Family) Trusts A Discretionary Trust, also known as a Family Trust, is generally used for the purpose of a family to hold investment assets or to conduct a family owned business. The term ‘Discretionary’ is used as the Trustee(s) have the discretion, or choice, to allocate and distribute income and capital to the Beneficiaries. A Discretionary Trust provides flexibility for streaming income and allows for multiple beneficiaries. Beneficiaries do not have a fixed interest or a fixed entitlement in discretionary trust funds, instead the trustee has complete discretion to allocate the assets and income anyway it chooses. A hybrid discretionary trust is, as the name suggests, a hybrid of a discretionary and a unit trust, with elements similar to both types of trusts. Reckon Docs Discretionary Trusts are compliant with legislation and customised to meet your specific requirements and circumstances. Documentation relating to Discretionary Trusts is prepared, reviewed and maintained by Hunt & Hunt, ranked in the top 20 legal firms in Australia. Hunt & Hunt also provide free over-the-phone legal advice to Reckon Docs clients. Reckon Docs also updates and amends deeds to changes in legislation or specific requirements of the trustee, which are carried out with an independent legal review. Order a Discretionary Trust today and receive your package the next working day (if ordered by 2pm AEST on a business day. DIYP orders delivered same business day)
For more information please contact Reckon Docs corporate services team on 1300 139 001 or e-mail to: corporateservices@reckon.com.au. |
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