Donnie Harris Law can assist you with structuring your business or investments through discretionary and other trusts. Trusts can be used as a legitimate tax minimisation strategy; as a means of providing shared income for family members; to minimise the risk of creditors making a claim against your assets; and to place valuable assets out of the direct control of individuals at risk of making poor decisions.
One type of discretionary trust is a family trust. A trustee is appointed to hold assets in their name for the benefit of a group of beneficiaries. We recommend using a Company as Trustee as it offers greater asset protection and avoids difficulty experienced in situations such as the death of a trustee, or in circumstances where a trustee is declared bankrupt.
We can assist you with establishing a testamentary trust under your Will. This is a specialised trust created to hold assets of your estate upon your death. It allows you to provide a mechanism for providing for your children and grandchildren and so on. A trust can continue for up to 80 years so it is possible for a testamentary trust to hold assets for your direct lineal descendants for a long period of time.
The benefits of a testamentary trust include income splitting, asset protection and also succession planning.
There are various other trusts including charitable trusts, testamentary trusts, unit trusts, hybrid trusts and other special purpose trusts. We can help you with almost any trust.
We also have extensive experience at establishing charitable trusts and particularly those trusts that meet the requirements for deductible gift recipient status.
Donnie Harris Law can assist you with:
We provide fixed fee services. Asked us to quote on a fixed fee basis.
Donnie Harris is an Accredited Specialist in Business Law (Qld) and has experience in delivering quality legal services to business owners throughout Queensland.
Liability limited by a scheme approved under the Professional Standards Legislation.
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