Products
Welcome to Trustify’s Product Page, your gateway to a variety of trust solutions designed to meet your unique financial needs. Our carefully crafted products are aimed at making sophisticated financial strategies accessible, affordable, and simple for everyone.
Browse through our diverse offerings to find the perfect trust solution that aligns with your goals, whether you’re looking to protect your assets, plan your estate, or secure your family’s financial future. Each product comes with detailed information to help you understand its features, benefits, and how it can fit into your overall financial plan.
Start exploring and take the first step towards a secure and prosperous future with Trustify.
What is a Discretionary Trust?
A discretionary trust in Australia is a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries, giving the trustee discretion over how and when to distribute assets to beneficiaries, subject to the terms of the trust deed.
Key positions in a Discretionary Trust
Trustee
Manages trust assets and makes distribution decisions.
Trustee can be an individual/individuals or a corporate trustee.
Settlor
Establishes the trust by transferring assets.
Beneficiaries
Individuals or entities who may receive distributions from the trust.
Appointor
Holds the power to appoint and remove the trustee.
a Discretionary Trust
Tax flexibility
Allows for tax-efficient distribution of income and capital gains among beneficiaries, potentially minimising overall tax liabilities.
Asset protection
Provides a layer of protection for assets held within the trust from creditors or legal claims against individual beneficiaries.
Estate planning
Facilitates the orderly transfer of assets before death or upon death without triggering capital gains taxes or stamp duty.
Succession planning
Enables the smooth transition of business ownership and management to chosen successors, ensuring continuity and stability for the business or investment activities.
Flexibility
Offers the trustee discretion to adapt to changing circumstances and beneficiary needs over time, providing greater control over asset management and distribution.
- ABN (Australian Business Number) registration under the trust’s name (usually handled by an accountant).
- TFN (Tax File Number) registration under the trust’s name (typically managed by an accountant).
- Bank account under the trust’s name.
- Stamping: Depending on where the trust is executed (signed), stamping of the deed may be required, and stamp duty is payable to the State Revenue Office.
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