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Family Trust

Learn what a Family Trust is, the tax benefits of setting up a Family Trust in Australia and more.

Who are the Beneficiaries in the Patricia Holdings Family Trust?

The Nominated Beneficiaries in the Patricia Holdings Family Trust are the person(s) named and described in the schedule.

The General Beneficiaries are:

(a) the “Nominated Beneficiary” or “Nominated Beneficiaries”, and

(b) the “Relations of the Nominated Beneficiaries”, and

(c) “Related Corporations and Trusts”, and

(d) “Directors of Related Corporations”, and

(e) “Shareholders of Related Corporations”, and

(f) the “Legal Personal Representative” of a General Beneficiary, and

(g) “Charities and Institutions”, and

(h) any additional persons (if any) that are named, described or defined in the Schedule as

The Additional General Beneficiaries are Beneficiaries who don’t fall within any of the categories as defined by “General Beneficiaries”. These could be a neighbour or a close friend.

Our order form invites you to nominate “Additional General Beneficiaries” if you choose. Individuals or entities named as Additional General Beneficiaries are Beneficiaries of the trust but do not benefit from the lineal or lateral provisions that the Nominated Beneficiaries enjoy. I.e. the Trustee has no discretion to distribute income or capital to related individuals or entities related to the “Additional General Beneficiaries”.

A Charity can be an Additional General Beneficiary.

Family Trust

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Patricia Holdings Family Trust
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