Trusts

Trusts are often used in business and are just as often misunderstood.

A trust is not a legal “thing”. It does not exist in the way that a company exists. In essence a trust is a set of obligations owed by one person (the trustee) to other persons (the beneficiaries).

A trust can hold assets, operate a business, administer assets or an estate or manage an investment for the benefit of another.

There are many types of trusts such as fixed, unit, discretionary, bare, hybrid, testamentary, charitable and superannuation trusts. Each arises in a different way.

They can sometimes arise as a matter of law but most often the relationship between the trustee and the beneficiary is guided by clearly defined obligations and objectives that are set out in writing. This is the Trust Deed.

The Trust Deed often brings with it a number of subsidiary documents. For example, agreements between the beneficiaries as to how their interests are defined and what input or influence they can have over the trustee, enterprise or asset that is held for them by the trustee.

The key is to ascertain if a trust structure is right for you and all key stakeholders and then work closely with your financial advisors and key stakeholders to shape it into a structure that delivers your desired outcomes.

Why choose Kalus Kenny Intelex Lawyers?

When you are involved in business you need a team of professional advisors on your side.

You need to rely on lawyers who understand both the big picture and the complexities, regardless of where you are at in your business cycle.

With over 30 years of experience in Commercial Law, our team are trusted advisors to some of Australia's most successful individuals, entrepreneurs and businesses. Understanding the complexities of business, family life, wealth and risk is our priority for all of our clients, and we pride ourselves on providing advice that is practical, commercial and strategic.

Experience is the difference.

Our Latest Insights

How to safeguard future finances after a separation

How to safeguard future finances after a separation

Life after separation is not always predictable.  However, as our recent article illustrated, it is important to formalise property settlements to ensure future financial protection. A recent case has illustrated that the alternative can be risky, particularly if your...

Donations to political parties. What are the boundaries?

Donations to political parties. What are the boundaries?

The Federal election is days away and the Victorian state election is also approaching. You may have made, or be considering, a financial donation to a political candidate or political party. Political donations are regulated in both the Federal and Victorian...

Discretionary trusts back on ATO radar

Discretionary trusts back on ATO radar

On 22 February 2022 the Australian Taxation Office (ATO) released a Draft Taxation Ruling TR 2022/D1 (Draft Ruling) and Practical Compliance Guideline PCG 2022/D1 (Compliance Guideline) about the tax treatment of: trust entitlements arising out of reimbursement...