All Topics / Legal & Accounting / Gifts to family who are members of the Trust

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  • Profile photo of OrionOrion
    Member
    @orion
    Join Date: 2003
    Post Count: 16

    My first question is to confirm which members of the family are automatically part of the Trust.

    I’m the Trustee of a Hybrid Trust with both my wife and myself as beneficiaries.

    I believe that the following people (besides ourselves) are automatic members of the Trust
    – My and my wifes’ Parents
    – My and my wives brothers and sisters.

    If my brothers and sisters are married and have kids, are their spouses and children also automatically part of the Trust? I don’t think so, but just want to confirm.

    Secondly, if I were to buy a family member a gift for their Birthday, does it have to be a gift (less then $100) for which I got a docket? Or, can I give cash of up to $100?

    Thanks a lot.

    Orion

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Orion

    This is usually the case. Just have a look at your trust deed to confirm.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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