Trust registration requirements
Benefits of a Family Trust
advantages of having assets in a family trust are:
Asset protection (protection of assets from creditors). If assets held by the trust aren’t owned by the trustees or the beneficiaries, the creditors of the trustees or beneficiaries can have no claim against the trust.
Continuity (A trust can ensure perpetual succession). When any trustee dies, the trust and any assets owned by it, remain unaffected.
Estate duty – trusts do not pay estate duty (tax payable by a deceased estate).
The trust’s income can be taxed in the hands of either the trust or the beneficiaries (a valuable tax planning tool).