Family Trust Fact Sheet

18 June 2019

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Family Trust Fact Sheet

Download our fact sheet to learn how we can help you set up a Family Trust


Setting up a family trust can be a great way to manage your wealth. However, if your trust is mismanaged then your wealth might not be protected.

Under a trust, your assets are put in the control of the trustees. Those trustees must look after your assets and manage them for the benefit of the beneficiaries. The interests of the beneficiaries are paramount – not your own.

If you do decide to set up a family trust, it’s important to set it up properly, and then manage it properly. In most situations, having a trust in the ‘bottom drawer’ for a rainy day won’t have your expected results.

Should I set up a family trust? 

Trusts come with significant obligations and complexities. For us it’s important to form them only where there is good reason.

These include:

  • Reducing the risk of assets being claimed by creditors (primarily where you’re in business)
  • Structuring assets so they can be passed between generations (primarily where you want decisions to be based on individual circumstances in the future)
  • Separating assets from relationship property and minimising the impact if your will is challenged (primarily where children from more than one relationship are involved and/or you have a relationship property agreement)

If any of these situations apply to you, then a trust might be a good option. The process of forming a trust can be complicated, so taking specific advice about your situation is a good starting point.

Download your Fact Sheet here
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for more help feel free to reach out. Get in touch with Sam French