Trustee Services
How does a Trust work?
Trusts are all about safeguarding assets. They are legal arrangements that can protect your money, property or other investments for the people you intend to benefit. For instance, you might want to set money aside so that it can be applied for your grandchildren's education, a charity, or the ongoing care of a child with a disability. You might want to ensure a property stays in the family after you're gone.
State Trustees can help you create a Trust to benefit your family and loved ones now or after you pass away by including a Trust in the terms in your Will. In both cases there are a number of very important things for you to consider.
The right Trust to suit your needs
At State Trustees we are experts in setting up Trusts, with over 70 years experience helping Victorians protect their assets.
Some of the more common types of Trusts State Trustees establish and administer are:
- Testamentary Trusts – set up in your Will to manage your assets and distribute to your beneficiaries long after you pass away.
- Minor's Trusts – created to manage and safeguard assets until a child inherits them at a specified age. Ideal for financing their education.
- Inter-Vivos Trusts – established while you are still living to help support beneficiaries such as a family member with a disability.
- Injury and Compensation Trusts – manage the money paid to you in compensation for injury, such as WorkCover or TAC
- Superannuation Minor's Trusts – set up after you pass away and leave a share of your Superannuation to a child.
Contact our experienced Trust team and we can help you establish the right Trust to suit your situation.
Choosing a Trustee
A Trustee is responsible for managing the Trust according to the terms you set out, for the benefit of those you intend. If they do not, they can be held personally liable. So it is crucial that you choose a Trustee you know will have the best interests of you and the Trust beneficiaries in mind. They must be able to act with integrity and understand that your Trust may run for many years.
Many people nominate a close friend or relative but they may not always have the right skills or the spare time required.
Should I use a lawyer?
Trust management is very specialised. Even lawyers often do not feel comfortable accepting the personal liability and time commitments that comes with the role of Trustee and can find the administration onerous. At State Trustees we work with many lawyers to set up Trusts and then manage them for their clients.
State Trustees as your Trustee
At State Trustees we have a dedicated team of specialist Trust consultants. Over time we have developed the culture, skills and experience to deliver the best service to trust beneficiaries with sensitivity, patience and understanding, while continuing to act with honesty and integrity so the wishes of the person who set up the Trust are not compromised.
- We have over 70 years experience administering Trusts
- We are one of the largest providers of Trustee Services in Victoria
- We are state owned
- We are steadfast, safe and reliable
- We have the capacity to manage the Trust years into the future
- You can rest assured we will be professional and act in the best interests of the beneficiaries
For more information, to book an appointment or to talk about your specific needs
