Book description
This is a plain English manual for ordinary Australian families and
small business proprietors. It will help them to decide whether to set
up a family trust, to understand the advantages and disadvantages of
this useful legal concept and to discuss the issues more intelligently
with their professional advisers.
All aspects of setting up and running a family trust are dealt with
in this book, including investment aspects and the taxation and social
security rules affecting trusts and their beneficiaries. It discusses
discretionary and unitised trusts, as well as trust deeds and the
roles of the settlor and the trustees. The use of trusts for children
with an intellectual disability, philanthropic foundations and the
winding up of trusts are also covered.
The fourth edition of Family Trusts has been greatly expanded.
In addition to the updated real-life case studies that help to flesh
out this important subject, there is new material on the
qualifications needed by trustees, hybrid trusts, the risks of
borrowing by trustees, non-resident beneficiaries, resettlements,
minutes of trustee meetings, protecting assets against creditors,
bankruptcy and divorce.
Nick Renton
is consulting actuary, professional writer and author of Learn More
About Family Trusts and Negative Gearing.
