Asset Protection & Trusts Law:

Individuals and families involved in business or entrepreneurial activities are often at risk of liability. The legal discipline of asset protection is based on restricting the risk of liability that can impact and wear away individual and family assets and wealth. Our Asset Protection Lawyers focus on delivering and implementing strategic asset protection solutions to minimise the effect of potential claims arising due to contingencies such as:

• business and investment failure;
• loan call-ins and default;
• bankruptcy and insolvency;
• the breakdown of a marriage or relationship;
• an individual’s position as a director or guarantor of a company; and
• general business and practice risks.

Trusts are often used as an asset protection vehicle. Generally speaking, a trust is a relationship where a party, known as the trustee, holds property for the benefit of another party, the beneficiary. Trusts are complex legal creatures which have the fundamental characteristic of creating a separation of the ownership of the legal and the beneficial (or equitable) interests in the property. Accordingly, the assets of a discretionary trust may be afforded some protection, in so far as the beneficiaries have no specific fixed legal entitlement to them, unless so decided by the trustee (which decision the trustee may or may not make, in their absolute discretion). 

To properly take advantage of a trust, it is necessary to obtain sound legal and tax advice to ensure that the trust is, amongst other things, compliant. Our Trust Lawyers are highly experienced in establishing and maintaining trust structures.