The answer to this question is Yes if you have the right sort of trust set up. We all know the benefits of a discretionary trust for taxation purposes but family and wealth protection is not guaranteed. If you use a Family Protection Trust with a special purpose corporate trustee and a four line lineage of succession in family protection appointors then family and business wealth protection is strong and secure. If you are using a simple discretionary trust with a sole director corporate trustee, individual trustees and no line of appointor succession – there is as much family wealth protection as a paper bag. And companies? Not even worth talking about.
In this session Grant and Michael will look at the ideal Tax – Family Wealth Protection – Business Succession and Estate Planning structure for all clients from start ups to medium size businesses.