Companies & Trusts Lawyers Servicing Merrylands, Parramatta & Western Sydney
A Trust is a fundamental element in the planning of financial affairs, whether for a business, investment purposes or a family. Put simply, a trust is used when one party holds property or rights on behalf of, and for the benefit of, another. The property held in trust can be cash, shares, superannuation funds, or even companies and physical property like a factory or commercial building.
There are a number of reasons why a trust may be used, but the primary purpose of establishing a trust is usually:
a. For protection from creditors;
b. To maximise taxation benefits;
c. For asset protection. .
The law surrounding trusts however can be complex. At Maclarens Lawyers our experienced lawyers can help you with:
- Drafting trusts
- Reviewing trusts on a regular basis to ensure they comply with financial and trust-related legal requirements and continue to be effective
- Working with your financial advisor and other professionals to make the suitable arrangements to create and manage the trust
- Providing advice on the most appropriate structure for a trust and ways to minimise the chance of claims being made under family law or debt recovery proceedings
- Also, where there has been an abuse of power or dispute between the parties, we can help you understand the workings of the trust and then reinstate the appropriate relationships and operations to get the trust to function properly for you again.