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Types of Trusts we manage

Trusts are set up for a variety of reasons. They can:

  • give ongoing support to a person you have left assets to in your will
  • support a charity
  • help plan your estate in a way that is tax-effective.

What is a trust and trustee?

A trust is a legal relationship set up to look after the assets for a person or organisation. Their assets can include property, shares and money. A trustee manages the trust’s assets.

They are responsible for keeping the assets safe. The people or organisation that benefit from the trust are called the beneficiaries.

Usually, a will or an agreement (called a deed) creates a trust. The will or deed sets out the terms of the trust. This includes:

  • who can receive benefits from the trust (who are the beneficiaries)
  • what assets are in the trust
  • when the beneficiaries can receive benefits from the trust.

We can help you choose the best type of trust for your needs.

The most common types of trusts

We can manage or help you manage any of the trust types below.

Testamentary trust

Your will can set up a testamentary trust to manage your estate’s assets. The trust can then make an income for your beneficiaries after you die.

Read more about testamentary trusts.

Minor’s trust

A minor’s trust manages and protects assets for a child until they reach a particular age. This is usually 18, 21 or 25 years of age.

Read more about minor’s trusts.

Inter-vivos trust

An inter-vivos trust is set up while you are living to support the beneficiaries. Trust beneficiaries might include a family member with disabilitiy.

Read more about inter-vivos trusts.

Injury and compensation trust

Laws or a court decision usually sets up an injury or compensation trust. The trust protects and manages money paid in compensation for a beneficiary’s injury. For example, compensation through WorkCover or the Transport Accident Commission (TAC).

Read more about injury or compensation trusts.

Superannuation minor’s trust

A superannuation minor’s trust is established after you die. It leaves a share of your super to a child.

Read more about superannuation minor’s trusts.

Special disability trust

A special disability trust is set up to help immediate family members and guardians provide for a person with a severe disability.

Read more about special disability trusts.

Private charitable trust

A private charitable trust can be set up while you are living or through your estate after you die. The trust allows you to choose which charity or cause you want give assets to.

Read more about private charitable trusts.

Need help managing a trust?

If you are a trustee and aren’t able to or no longer want to be a trustee, we can help. You may be able to transfer your trustee responsibilities to us.

We can take over the obligations of a trustee and take on responsibility for the trust.

Contact us to find out more about getting help managing a trust.

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