A Corporate Trustee adds an extra layer of protection and flexibility to a trust.
You have a cleanskin company taking responsibility for the affairs of the trust.
It costs more but usually delivers a better result.
An Individual Trustee is where you and/or your partner or other family member take responsibility for the affairs of the trust. This is cheaper but more difficult to transfer control and is less effective at managing risk. We can arrange legal advice if you require further information.
Please let us know if either you or your partner have children from a former relationship so we can ensure appropriate advice is provided.
If you or your partner have an existing trust or company, please contact us to explain details.
As a general rule, the beneficiaries of a discretionary trust include all extended family members (spouse/de facto, children, parents, siblings, spouse/de facto of siblings, nieces and nephews, uncles and aunts) and related entities however specified beneficiaries are generally limited to direct family members such as you, your spouse and your children.
You can have a sole Appointor, joint Appointors (you must act together) or joint and several Appointors (you can act together however each Appointor can make a decision on their own on behalf of the Trust).