A family trust in Australia works in a
similar way to a bank account.
A parent can open a bank account for
their child, which then belongs to the child but is ultimately controlled by
the parent.
A family trust works in the same way.
A parent may set up a family trust and
name their children the beneficiaries of the trust, thereby giving them
entitlement to income and assets within the trust.
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Jason Gwerder
Wednesday, 14 June 2023
