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Family TrustSetting up a family trust can be a very effective way to minimise tax and also provide for your children's futures. Family Trust for Tax PlanningFamily trusts used as a vehicle for tax planning allow the trustee to distribute taxable income at their discretion. This means that trust income can be taxed in the hands of individual family members with lower marginal tax rates. Family Succession Planning
Succession planning for families is rarely considered in light of
maximising wealth distribution to your descendants and minimising
their tax. Issues such as capital gains need to be considered, and
by vesting your estate into a trust for your family, you may be
giving your children a tax advantage by giving them more flexibility
with how and when they accept that income.
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