HHH Partners :: Chartered Accountants :: Number one in numbers
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD
  • HHH Partners,accountants,business,taxation,financial planning,wealth creation,Emerald, QLD

Trusts

A trust provides a valuable way to protect the assets you have accumulated for the benefit of others. Our extensive experience with trusts enables us to offer specialist advice on trust formation and ensures all statutory requirements are met. Obligations for trustees can often be onerous, and our assistance in trust administration can prove invaluable. We can assist with:

  • Preparing and executing the vital documentation required for trust formation
  • Attending to the special requirements involved in reporting for trusts
  • Completing the trust administration:
    • Minute-keeping service
    • Annual accounts
    • Taxation
    • Asset management
    • Investment monitoring
    • Income distribution

Contact us today to ensure your trust is formed and administered as effectively as possible, covering all legal requirements and guaranteed to fulfil its purpose!

What is a Trust?


A trust of property is an obligation on the trustee to hold property or income for a particular purpose on behalf of other people. There are a number of different types of trusts:

  • Discretionary trusts;
  • Unit trusts (public and private);
  • A combination of a unit and discretionary trust (hybrid);
  • Fixed trusts;
  • Testamentary trusts; and
  • Inter vivos trusts.

Family trusts are typically discretionary trusts with family members as the beneficiaries. Discretionary trusts are so called because the trustee has a discretion as to which beneficiaries he or she may pay income or capital. Income can usually be paid to one beneficiary at the exclusion of another. The potential pool of discretionary beneficiaries is usually set out in the trust deed.

Advantages and Disadvantages

The advantages and disadvantages of trusts vary depending on the type of trust it is. Generally speaking, the major disadvantage of a trust structure is that it cannot distribute losses to its beneficiaries. The major advantage, particularly in the case of a discretionary trust, is the ability to split income amongst the pool of beneficiaries. A benefit can be obtained by directing income to members of the family with low marginal income tax rates.

 

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