A Solicitor from Westley DiGiorgio Norcock can advise you on the best structure to own and operate a business whilst maintaining and protecting family assets outside the operation of the business.
One of the most flexible structures is a Discretionary Trust, otherwise known as a Family Trust. These Trusts’ deliver the most flexible and tax effective structure that can be used to own and run a business whilst protecting assets outside of the business. A Trust can protect private assets such as the family home if something goes wrong in the running of the business.
If the business is thriving, a Trust has the ability to distribute profit among family members to maintain low tax brackets.
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