Trust Variation

Hi Dale,

Just a quick question,

With regards to a trust, what happens to a single person who has no intentions of starting/maintaining a family? You speak of distributing profits to "family members", so are trusts limited only to mums and dads with families? Can you tell me how a trust can assist a young single with no intentions of shared purchases and/or children? Can I have a "family trust" when its me, and only me???

Thanks Dale,

Jamie.
 
Originally posted by Jamie
Hi Dale,

Just a quick question,

With regards to a trust, what happens to a single person who has no intentions of starting/maintaining a family? You speak of distributing profits to "family members", so are trusts limited only to mums and dads with families? Can you tell me how a trust can assist a young single with no intentions of shared purchases and/or children? Can I have a "family trust" when its me, and only me???

Thanks Dale,

Jamie.

Hi Jamie

Yes, you can. This trust would still be able to distribute income to your parents, or your siblings, or your nieces and nephews if you want. Failing that, the trust can distribute profit to a company at 30% tax instead of up to 48.50% tax in your own name.

Moreover, the trust provides great asset protection and it allows you to claim more tax deductions than you could as an individual investor.

Lastly, a well established trust is flexible enough to include future partners and children should they come along one day.

Does this help?

Dale
 
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