Company Beneficiaries and Trustees for Family Trusts

Family trusts are one of the most popular forms of business structures. The advantage of having a family trust is that the profits never leave the trust. The beneficiaries are nominated at the year end and profits will be distributed to them, but these will be promptly reinvested in the trust so that money never goes outside the trust. Nominated beneficiaries are usually the younger family members who fall in the low income tax bracket. This will help in securing tax advantages in the form of lower tax payments by them. Nowadays there is an overriding trend to appoint companies as beneficiaries....