Family Trust is a structure where a business and or assets are owned /operated in a trust, which is managed by a third party (trustee) who has legal control and has a duty to operate that business to benefit someone else (beneficiaries). Traditionally, trust structures provided taxation benefits and asset protection. Some of those tax benefits associated with trust structures have been eroded over time, but a Family Trust can still be most suited for tax saving and liability protection.
See other posts on options for business start-ups: Sole Trade, Partnership, Company or Trusts.
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