Family (Discretionary) Trusts

Extract

Trusts have their origin in medieval England when a landowner would, for estate planning purposes, convey land to another person to hold it for the benefit of a third person. From those simple beginnings, many forms of trust have evolved. These include family (or discretionary) trusts, fixed trusts, unit trusts (a form of fixed trust), hybrid trusts, testamentary trusts and superannuation funds.

The family trust is one of the most popular business and asset holding structures currently used in Australia. This is because of the family trust’s asset protection, succession and tax efficiency characteristics.

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