When considering any structure, you want to assess how suitable it is for your and your circumstances. Things to consider, include:
- The status of the structure in relation to income tax, capital gains tax and land tax.
- The status of the structure in relation to asset protection.
- The level of control provided by the structure and succession planning considerations.
- The flexibility to change as circumstances might dictate.
- The initial and ongoing costs associated with setting up and running the structure.
These are typically used when an investment is held for an infant beneficiary or a property is held by a trustee to protect the identity of the beneficiary.
If you are considering your a Trust, your Estate Plan, asset protection or business structures, it is important that you seek appropriate legal advice, so you are aware of your rights and where you stand. Contact Carter O’Neill Legal today to speak to our Gosford lawyers on (02) 4308 8892 or our Mona Vale lawyers (02) 9171 7339 to discuss any of your legal needs.