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Synopsis

This is a plain English manual for ordinary Australian families andsmall business proprietors. It will help them to decide whether toset up a family trust, to understand the advantages anddisadvantages of this useful legal concept and to discuss theissues more intelligently with their professional advisers.

All aspects of setting up and running a family trust are dealtwith in this book, including investment aspects and the taxationand social security rules affecting trusts and their beneficiaries.It discusses discretionary and unitised trusts, as well as trustdeeds and the roles of the settlor and the trustees. The use oftrusts for children with an intellectual disability, philanthropicfoundations and the winding up of trusts are also covered.

The fourth edition of Family Trusts has been greatlyexpanded. In addition to the updated real-life case studies thathelp to flesh out this important subject, there is new material onthe qualifications needed by trustees, hybrid trusts, the risks ofborrowing by trustees, non-resident beneficiaries, resettlements,minutes of trustee meetings, protecting assets against creditors,bankruptcy and divorce.

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