Trusts have been around for centuries and still have a role today. The purpose of a trust is to protect your assets and this has not changed.
Trusts have made the news in the last few years because the government has tightened the criteria for rest home subsidies. The abolishing of gift duty has seen confusion and may have caused unnecessary anxiety for those with a family trust. Some people wrongly believe it is unnecessary to complete the gifting programme but more often than not it is still essential to complete.
Trusts encourage family succession and do ultimately protect the family inheritance by protecting your assets for future generations.
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