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There are many benefits to using trusts to manage your wealth, including:

 Asset protection. Family assets may be protected from ‘creditors and predators’ in the event of bankruptcy or insolvency in certain situations.

 Australia-wide. A trust established under Australian law can operate effectively in every Australian state. If you have potential beneficiaries living overseas, it is recommended that you seek specialist advice before proceeding further as there are many tax implications to consider.

 Flexibility. Trust deeds are flexible in their operation and can cater for a wide variety of beneficiary classes and investments, and different types of income can be directed to different beneficiaries.

 Little regulation. Trusts do not have as many reporting requirements and obligations as company structures.

 Tax minimisation. Income can be directed to family members on lower tax rates but note to seek advice from a tax professional before you do.