Forum Replies Created
We have only had great benefit with the creation of discretionary trusts. At the moment we have 4 trusts operating and they work great for the business and property focuses we have.
Find a great accountant and let them guide you through the best structure for you. There are obviously stages where this structure is of extreme benefit – they will know the best timing for you. we are beneficiaries of the trusts and directors of the trustee company.
When you are making a profit – the trusts have been the perfect structure for us.
We had a hard lesson with land tax as being beneficiary of the trusts brought the land tax back on to him as an individual, which I thought was very tricky.
We have properties and businesses so this structure was right for us, but the key is your accountant and advisers – get the best and you will have great advice.
Best wishes
