|
Family Trusts are increasingly being set up to protect and preserve assets for their future generations. In many cases establishment of appropriate structures also enables tax minimisation.
It is important to consider the big picture and your long term objectives when forming a Trust of any kind. Choosing a Trustee is a critical decision because, as a Settlor, you have sold your asset(s) to the Trust and have given up ownership to the Trustees. Anyone over the age of 20 years and sui juris (of normal mental capacity) can be nominated as trustee, however, it is often a good idea to have at least one professional person, such as an accountant or lawyer, as a trustee.
Lindsay Dey is a professional Trustee for many of our clients' Trusts.
|
