FAMILY TRUSTS A PLAIN ENGLISH GUIDE FOR AUSTRALIAN FAMILIES OF AVERAGE MEANS 3E

This easy-to-understand guide will help ordinary Australian families to create wealth by arranging their financial affairs in better ways, taking into account current conditions and their own particular circumstances.All aspects of setting up and running a family trust are dealt with in this book including taxation and social security rules affecting trusts and their beneficiaries. It discusses trust deeds and the roles of the settlor and the trustees. It examines discretionary trusts and unitised trusts and it analyses the principal alternatives to family trusts. Other topical subjects explored are the use of trusts for children with an intellectual disability and for the protection of assets against creditors.Even if a trust starts off in a fairly small way it could grow over time to handle quite large sums. Getting things right in the first place is clearly most important, and the crucial question 'Can anything go wrong?' is dealt with. A glossary and a detailed index are included.This third edition has been greatly expanded and updated. It now includes chapters on the winding-up of trusts and on charities and philanthropic foundations. Some real-life case studies have also been added to flesh out this important subject.