What is the Role of a Settlor?
A person who has been named as Settlor in a discretionary trust only has one duty to undertake, he/she makes a gift of the “settled sum”, usually a nominal amount…
What Information is Required to Establish a Discretionary Trust
Once it has been determined that a discretionary trust set up should be established, it is important if hesitant regarding the trust set-up, to seek professional advice to ensure all…
Responsibilities Imposed on Directors
There are numerous and important legal responsibilities imposed on directors under the Corporations Act 2001 and other laws, including the general law. Of these duties, some of the most significant are: to act in…
How Do I Register a Domain Name for My Business
Making sure that your domain name is available before you try to register it is the first step. It isn’t compulsory to register a domain name when commencing your business,…
Family Trust Vs Unit Trust
Family or Discretionary Trust A trust is basically a legal structure whereby a person or company (the trustee) holds assets on trust for the benefit of a group of beneficiaries.…
What are the Advantages of Having a Company as Trustee of a Unit Trust?
Some of the advantages of using a corporate trustee include: Removal of the bulk of the risk of personal liability which is the worry individual trustees are exposed to (although…
What is a Beneficiary?
A beneficiary is a person for whom a trust is created & who receives the benefit of that trust. With regard to most discretionary trust deeds “specified beneficiaries” are listed…