Discretionary Family Trust

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A discretionary family trust is a type of trust that provides for the distribution of trust assets to beneficiaries at the discretion of the trustee. It is commonly used in estate planning as a way to provide for the financial support of family members and to protect assets from creditors and lawsuits.

In a discretionary family trust, the trustee has the discretion to determine how much and when trust assets should be distributed to each beneficiary. This means that the trustee has the ability to make decisions about the distribution of assets based on the specific needs and circumstances of each beneficiary. The trustee may also choose not to make a distribution at all, which can be particularly useful if a beneficiary is unable to handle their own finances or is facing financial difficulty.

 

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Key benefits of Estate Planning

Protect Beneficiaries

Provide financial security for loved ones

Reduce Taxes

Minimise inheritance and capital gains taxes

Prepare for Incapacity

Ensure decisions are made by trusted people

Avoid Probate

Streamline the transfer of assets to heirs

Control Asset Distribution

Decide who inherits what and when

Protect Your Assets

Safeguard wealth for future generations

Plan for Care Costs

Protect assets from care home fees

Preserve Family Wealth

Prevent wealth from being eroded over time

Gain Peace of Mind

Reduce family disputes and secure your wishes

Estate planning ensures your assets are protected, your wishes are honoured, and your loved ones are cared for.

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