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Discretionary Family Trust

DescriptionSoftcopy *
Discretionary / Family Trust$300
* Add $75 for hard copy

What’s in our package?

This package provides the necessary documents to establish a discretionary or family trust. It includes:

  • Letter
  • Relevant ATO forms
  • Trustee minutes
  • Memo and
  • Deed

Note: Stamp duty is $200 in Victoria, $500 in NSW and $50 in both Tasmania and the NT (broadly, provided there is no dutiable property at the time of execution).

DBA Lawyers can assist you with stamping your deeds in Victoria at a cost of $365 (including $200 duty, our administration fee and postage).

A Duty Summary for each state and territory‘s duty criteria and whether and where to stamp is included in our package.

Foreign beneficiaries

Additional duty and land tax may be payable by a trustee in respect of real property and certain other dutiable property in some States and Territories.

To minimise this risk, the standard DBA Lawyers’ discretionary trust deed excludes certain ‘foreign beneficiaries’ (as defined at the time the deed was prepared) from receiving any distributions.

If the trustee intends to distribute to a foreign beneficiary, before ordering, expert advice should first be obtained as a tailored deed will generally be required for an additional fee. Please contact us if needed.

Corporate Trustees of Discretionary Trusts

If you are establishing a new discretionary trust, you should consider the advantages of a corporate trustee over individual trustees.  The long-term benefits of a company generally outweigh the up-front cost of incorporation.  Some of the main advantages are:

  • Asset protection for the directors from third party claims
  • Greater protection from trustee taxation liabilities
  • Clear separation of ownership of trust assets from individually owned assets
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