Family Trusts - Tread Carefully
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  Running Time: 9:06 Date: 01/07/2012 Family trusts are very popular as asset protection, but take advice, especially if you're changing the trust deed. Family trusts are a good way of managing the ownership of a family business and protecting the assets for the beneficiaries. But - as lawyer Bernie O'Sullivan, an expert adviser on family trusts explains- when family members fall out, the resultant disputes can be both painful and protracted. He says trustees and prime beneficiaries must remember that the assets of the trust are not theirs alone -changes to the Trust Deed or the rights of other beneficiaries need to be handled carefully to avoid legal action or unwanted taxation consequences. Take advice from your accountant or lawyer, he recommends - and tread carefully! Topics: Family Business, Legal |
 Bernie O'Sullivan, Bernie O'Sullivan Lawyers |