Order a Discretionary Trust - $100 + GST
Discretionary Trust - also called a 'Family Trust'.
IMPORTANT:
Please note the ATO has said the following regarding trustees and beneficiaries of trusts.
‘The Trustee may also be a beneficiary, but not the sole beneficiary unless there is more than one trustee.’
Please click this link for more information: https://www.ato.gov.au/General/Trusts/Trustees-and-beneficiaries/
No Foreign Beneficiaries clauses in Trust deed
In many Australian states surcharge purchaser duty and /or surcharge land tax is payable on residential land purchased by foreign persons.
A trustee of a discretionary trust is deemed to be a "foreign person" if the terms of the trust do not specifically prevent a foreign person from being a beneficiary of that trust.
If the terms of the discretionary trust prevent a foreign person from being a beneficiary, then the trustee will not be a "foreign trustee" for the purposes of surcharge purchaser duty and surcharge land tax.
To select the version of our discretionary trust deed that includes the ‘No Foreign beneficiaries’ clauses, please tick the relevant box at the end of the order input screen.
Please refer to your states Revenue Office website for more information regarding foreign purchasers surcharge tax and duty.
General information
Discretionary Trusts are among the most popular forms of trust within Australia. Discretionary trusts are used for a variety of purposes, including the following;
- To operate small businesses where the owners do not have a commonality of interests;
- To purchase and hold investments, particularly real property.
What you receive
- Instructions for establishing the trust;
- Minutes of meeting of the Directors of trustee company OR Consent to Act as Trustee document;
- Trust deed;
- Schedule to the trust deed;
- Annexure to the Trust deed.
Introduction to Discretionary Family Trusts
Thanks to Perth Legal Docs' streamlined online services, setting up a discretionary family trust account in Perth has never been easier. A discretionary family trust, commonly known as a family trust, can be helpful for managing your family's financial assets and securing your family's financial future. In this comprehensive guide, we will discuss the various benefits of establishing a family trust account, the costs associated with setting up a family trust, and how our online platform simplifies the process for you.
The Benefits of a Discretionary Trust
A discretionary trust, also known as a family trust account, offers several advantages, including asset protection, tax benefits, and flexibility in distributing income among beneficiaries. With a family trust, the trustee can decide how the trust income and assets will be distributed among the beneficiaries. This flexibility allows the trust to adapt to changing circumstances and ensures your family's financial needs are met.
Setting Up a Discretionary Trust Online
Perth Legal Docs make it easy to set up a family trust online. Our user-friendly platform streamlines the process of setting up a discretionary trust, ensuring all the necessary legal documents are in place. Our comprehensive online service allows you to create a discretionary trust deed tailored to your specific needs and circumstances.
Cost to Set Up a Family Trust
Understanding the cost of setting up a family trust is crucial. That's why at Perth Legal Docs, we focus on delivering an affordable and transparent service. For only $110, GST included, we provide an online service to help set up your family trust fund. With this competitive pricing, we ensure that you receive optimum value for your money. Trust our expert team to navigate you through the process with no concealed costs or unexpected charges.
Discretionary Trust Beneficiaries
A significant advantage of a discretionary trust is the flexibility in choosing and changing beneficiaries. Discretionary trust beneficiaries can include family members, friends, or even charities. Our online platform enables you to easily manage the beneficiaries of your trust, ensuring that your loved ones receive the financial support they need.
The Discretionary Trust Deed
The discretionary trust deed is the legal document that outlines the terms and conditions of the trust. It is a crucial part of setting up a discretionary trust, as it sets out the trustee's powers and duties and outlines the beneficiaries' rights. Perth Legal Docs provides a comprehensive and customizable discretionary trust deed, ensuring your trust is established by your specific requirements.
Benefit from a Discretionary Trust Today
Now that you have a better understanding of the benefits of a discretionary trust, the cost of setting up a family trust, and how our online service simplifies the process, it's time to take action. Setting up a discretionary family trust account in Perth has never been more accessible, thanks to Perth Legal Docs. Our team of experts is ready to guide you through the process and provide the support you need to establish a secure financial future for your family.
Don't wait any longer to protect your family's financial future. Set up your family trust online today with Perth Legal Docs and experience peace of mind with a well-planned discretionary trust. Click the button below to get started, and let our online system guide you every step of the way.