Family Law

Family
Trust.

Navigating your path to financial security - structuring advice for asset protection, estate planning, and tax efficiency.

Family Trust

Will a family trust protect my assets?

A family trust can provide a level of protection for your assets. However, it's essential to understand that the extent of protection depends on various factors, including the legal structure of the trust, how it's established, and the specific laws in your jurisdiction.

Creditor Protection
Divorce Protection
Estate Planning
Tax Efficiency
Privacy

Trust our expertise in family trusts.

Navigating the world of family trusts in Australia requires expertise and legal insight. Our team of dedicated family trust lawyers at Cohen Lawyers in Melbourne is here to guide you every step of the way.

FAQs

Common questions.

How much does a family trust cost in Australia?

Setting up a family trust typically costs a few thousand dollars in legal and accounting fees, depending on the complexity of the structure, plus ongoing annual costs for tax returns and compliance. We can provide a fixed-fee quote once we understand what you're trying to achieve.

How do I transfer assets to a family trust in Australia?

Assets are transferred by changing legal ownership from you to the trustee, which may trigger stamp duty or capital gains tax depending on the asset involved. We work alongside your accountant to structure the transfer in the most tax-effective way.

What happens to assets in a family trust?

Assets held in a family trust are legally owned by the trustee but managed for the benefit of the trust's beneficiaries, in line with the terms set out in the trust deed. The trustee decides how and when income and capital are distributed.

How much tax does a family trust pay in Australia?

A family trust generally doesn't pay tax itself - income is distributed to beneficiaries each year and taxed at their individual marginal rates. Any undistributed income is taxed at the top marginal rate, which is why most trusts distribute all income annually.

Can I take money out of my family trust?

Only through a proper distribution to a beneficiary, recorded correctly in the trust's records - you can't simply withdraw funds as you would from a personal bank account. Your accountant and trustee resolutions need to reflect each distribution for the relevant financial year.

Can a beneficiary withdraw from a family trust?

A beneficiary can only access trust funds once the trustee has resolved to make a distribution to them - they don't have an automatic right to withdraw funds at will. The trust deed and the trustee's decisions govern when and how distributions are made.

Our People

Lawyers who listen as well as advise.

Our family law team brings experience and genuine empathy to every matter. You'll always speak with the lawyer who knows your case - not a paralegal or a junior.

Meet the team