| Family Trusts (also known as Discretionary Trusts) A Family Trust, also known as a Discretionary Trust, is generally used for the purpose of a family to hold investment assets or to conduct a family owned business. Trustee(s) of a Family Trust have the discretion, or choice, to allocate and distribute income and capital to the Beneficiaries. A Family Trust provides flexibility for streaming income and allows for multiple beneficiaries. Family Trust beneficiaries do not have a fixed interest or a fixed entitlement in family trust funds, instead the trustee has complete discretion to allocate the assets and income anyway it chooses. A hybrid family trust is, as the name suggests, a hybrid of a family and a unit trust, with elements similar to both types of trusts. Shelco Family Trusts are provided by Reckon Docs, and are compliant with legislation and customised to meet your specific requirements and circumstances. Documentation relating to Family Trusts is prepared, reviewed and maintained by Hunt & Hunt, ranked in the top 20 legal firms in Australia. They are updated and amended in line with changes in legislation or specific requirements of the trustee, which are carried out with an independent legal review. Hunt & Hunt also provide free over-the-phone legal advice for clients setting up a new Family Trust. Order a Family 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 on Family Trusts please contact Reckon Docs corporate services team on 1300 139 001 or e-mail to: corporateservices@reckon.com.au. |
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