Difference between a Discretionary Trust vs Family Trust
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- Опубликовано: 19 сен 2022
- Majority of professionals say that there is no difference, but there is. Difference which can make a big impact on you, your business and family financially.
"What is the difference between a Discretionary Trust and Family Trust."
In our latest webinar recording Derek will explain the differences between the 2 trusts and why its important to understand and plan ahead.
Have a question or need help? - Email info@twelve.com.au
Hi Derek, Thank you for providing information in simpler form. Makes lot of sense now.
A great video. Does the transition from a Discretionary Trust to a Family Trust remove all nominated Discretionary Trust beneficiaries?
Derek, can a family trust make a distribution to charities or a non-profit e.g. a church? Or would you need to have a separate discretionary trust for that?
great question. i'm going to find a good trust lawyer to answer that question properly. my understanding is that a discretionary trust can as long as the charity is specifically named (not just 'a charity') in the trust deed. i'm not certain regarding a 'family trust', i'm thinking no, but will seek clarification. derek
Can you distribute from a family trust with profit to a family trust holding a negative gearing property
I believe you can as long as the test individual is the same in both family Trusts. derek
@@TwelveAccounting Thanks