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 Commercial Law Team
Our Latest Insights
We are often asked by our developer clients about the benefits of interposing a developer entity between a land owning entity and purchasers in a development. There are many benefits of using a developer entity in development projects. Under this commonly used...
Covid lockdowns have impacted all of our lives in ways we could never have imagined, bringing people to question what is important in their lives, what they want for their future, and make some “life is too short” type big decisions. This soul-searching, and having...
'Australasian Lawyer' has released the 2021 Fast Firms list, comprising 15 firms that have reported record growth and kept up the momentum during a trying time for the legal profession. The COVID-19 pandemic was expected to cripple the Australian legal profession the...