What is a Trust?
A Trust can be established for a wide range of reasons, but mainly a Trust is utilised to ensure a smooth transfer of assets whilst you are alive or after your death.  A Trust is often set up for family members, dependents and/or friends.   A Trustee (or Trustees) is appointed by you to manage the Trust.  In most cases a Trustee will be a family member, friend or lawyer – someone you can depend on to be responsible with this power and can be relied upon on to follow your plan.  

• Specific directions for asset and/or business transfer 
• Preventing unacceptable use of assets
• Setting up long-term asset management on behalf of Beneficiaries
• Providing optimal asset management for Beneficiaries unable to manage themselves ie: children or disabled dependents etc.
•  Allows you to share your assets while still alive and keep a measure of control
• Tax minimisation for Beneficiaries / Tax benefits for small business  

Types of Trusts

• Testamentary Trusts; take effect upon the death of the Will maker
• Living Trusts/Inter-vivos; take effect whilst Will maker still alive
• Charitable Trust; all assets go to charity      
• Discretionary Trusts; Trustee decides how assets are divided  

Taxes and Trusts 
A Trust can be set up to: 

• Minimise Tax on assets, during and after your life
• Minimise Capital Gains Tax for beneficiaries
• Minimise Tax on superannuation
• Receive Tax benefits for small business