Major Benefits to Have A Family Trust?
A trust or family trust is well known for its name only. Other than professional, the majority taxpayers do not really understand why they need a trust. The trust can be extremely complex system or just by itself.
Today, let us only focus on TWO major benefits when having a family trust.
As we all know, the higher income under a single individual name, the higher marginal tax rate applies in the current tax system. Due to
Although the trust is still controlled by you (trustees), the assets are in fact owned by the trust. If there is a corporate trustee in place, any dispute or lawsuit to individual names or other business entities, creditors are generally unable to claim anything against the trust assets.
Therefore, if you are risk taker or expose to any business/personal risks in the family, it will be a smart and wise decision to place your investments, such as real estate properties, cash, shares, etc. in different entities, such as a family trust with a corporate trustee to isolate all risks. If you have any queries or would like to take the above-mentioned benefits, please do not hesitate to directly contact