A Plain English Guide for Australian Families

With practical information on:

• The pros and cons of family trusts
• Different types of trusts
• Drawing up a trust deed
• Estate planning and philanthropic trusts
• How family trusts and their beneficiaries are taxed
• Winding up a trust

Family Trusts, 5th Edition, is a manual for ordinary Australian families and small business proprietors. It provides readers with the information they need when deciding whether to set up a family trust, and discusses the advantages and disadvantages. With this knowledge, ordinary Australians will be equipped to discuss the trust process with their professional advisers, accountants and financial planners.

This fifth edition of Family Trusts has been fully revised and updated and includes the latest changes to the Australian tax system. This book discusses all aspects of setting up and running a family trust including the qualifications needed by trustees, the types of trusts available, the risks of borrowing by trustees, the rights of beneficiaries, and the protection of assets against creditors, bankruptcy and divorce.