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They soak up time, energy, and hard-earned cash. And they can ruin your life both financially and personally. If
you think it’ll never happen to you, think again! Australia is now one of the most litigious countries in the world.
Businesses and hard-working families are being sued for anything and everything.
Trusts can put your assets beyond a creditor’s reach, whether a claim comes from a malpractice case, an
accident on your property, or bankruptcy. A trust can even spare your beneficiaries from future
lawsuits and family breakdowns.
If you lose a lawsuit, every asset in your name including your family home, your business, your investments, and
your entire life savings are all at risk of being seized. Even if you win a lawsuit, you still lose money from legal
costs incurred defending yourself. These expenses are generally not reimbursed.
A trust is a legal arrangement where assets are held by a person or company, referred to as a trustee, for the
benefit of others, such as you, your family, or your business.
The legal title of your assets are held by the trustee, but all of the beneficial interests of those assets including
income and capital still belong to you, your family, or your business.
This means that if you were successfully sued, only assets held in your name would be at risk. Assets held by the
trust would be out of reach because the legal title of those assets are held with the trustee, not you.
In addition to asset protection, trusts also provide significant tax-saving and wealth-creation benefits.
Schedule a time to talk to us to see if we can help you:
Contact us to discuss your personal financial and business goals, and how we can help you reach them.
We provide Accounting, Audit, Tax (Company, Individual & SMSF) and Advisory Services specialising primarily with but not exclusively to the travel industry. We believe we provide our Travel Agent and small business clients with the best advice and service. Our Travel agency clients benefit from our long standing experience in the Travel Industry and knowledge of the compliances associated with IATA.
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14-18 Lee St,
Sydney NSW 2000,
Australia
E: info@travelaccounting.com.au