A Beginner's Guide to Trusts

In the latest instalment of our Legal Education Series, Australian lawyer Damin Murdock answers the most pressing legal questions businesses face. In this episode, Damin provides an overview of trusts.

[@suavehit]

What a great, detailed expalanation for beginners of what a Discretionary Trust is and how it works, the relationships of the key roles, and the obligations of each. Thank you for your work and time.

[@jeffreybean5466]

Thank you. Can you be the appointor, the trustee and one of 4 beneficiaries?

[@Milly5288]

Oh WOW what a great explanation. Thank you so much. Love from Australia ❤

[@melissakeenan8878]

I finally understand it!! Thank you! Excellent explanation! Wish I can show you the diagrams I created based on your explanation.

[@ScottBuckley]

Great explanation - this has helped me so much!

[@polinasasko2939]

Great explanation!
Thank you very much! You deserve so much more of likes!

[@reginaldt154]

Wow amazing thanks for the clarification

[@jpbeaudoin3599]

Great video! Very well explained. Could you possibly do a video or comment how you fund a trust to buy property? I plan to buy an IP under a trust. I will provide the deposit but will also incur losses throughout the first few years. Can I just transfer money in and out from my personal account into the loan account (offset) related to the asset under the trust? What if I want to park all my cash into the trust offset account, can I still use it for everyday transactions regarding my individual needs? Thank you very much!

[@X10-bz]

I have a discretionary trading trust , that I know very little about, I am now in bankruptcy can I use the trust to do new business

[@thisistheendpt2]

Can one be both the appointee as well as the settlor?

[@susmusmanoj112]

Mate that's the best video on the internet !! 🤩🤩🤩🤩🤩
Fucke me dead !! Literally no one has ever explained in such a manner 😮😮😮😮😮😮😮

[@ridgesiofele485]

Thank You

[@rabih9451]

Question: if you have a family trust, with a company as trustee. If you sell a property owned by the trust, does the money you receive from the sale goes into a bank account in the name of the trust or the company that is the trustee?

[@kunalpatel5645]

Trust.

[@JasKhalid]

Is this the same for Australia?

[@billedifier8584]

yes, it is Australian law

[@fifthdimension1984]

The $70 k distribution will not magically be $50k for you, $20k for the wife ( not working) and $10k each for 2 kids. This equals $90k !!!