Superannuation Proceeds Trust:

When your superannuation is released, perhaps due to the fact that it is a benefit or pension mode or if you have exceeded the eligible age to hold superannuation, you may wish to roll-over the superannuation proceeds into a trust structure. In addition, you may receive a lump sum superannuation benefit. There are a multitude of reasons for placing your superannuation proceeds into a trust, such as to minimise tax, to attain a certain level of flexibility in distributions and invest, to protect against external risks and bankruptcy risks. Thorough and detailed advice from a qualified and experienced Asset Protection and Trusts Lawyer can be greatly advantageous in timing and structuring your contributions.

There are many different types of trusts with unique features and advantages. You may prefer the flexibility and tax advantages of a discretionary trust; require the fixed interest and entitlement from a unit trust, or wish to operate your own family business through a trading trust. Thorough and sound legal advice in this area of complex, intricate law may be of immense value in determining the appropriate trust structure that is suitable for your needs.

A trust is a special legal relationship that exists between a trustee and beneficiary and involves ‘trust property’. A person who, either alone or jointly with another or others, has property which he or she holds, or rights which he or she is bound to exercise, for or on behalf of a person or persons or for the accomplishment of some particular purpose or purposes, holds the property or rights on trust for that person or those persons or that purpose or those purposes and is called a trustee. At the cornerstone of any trust is the relationship between the trustee and beneficiary, in which the trustee owes fiduciary duties to the latter. The obligations of a trustee are equitable and are enforceable only in a court having equitable jurisdiction. Even though the trustee’s obligations are personal obligations they are also annexed to the trust property, so that the beneficiary has rights of a proprietary nature constituting an equitable estate in the property, which rights are enforceable against any subsequent holders of the property other than a purchaser for value of the legal interest without notice (or an innocent third party that later acquires the trust property with no knowledge of the equitable interest by trust). A trust is a vehicle or device that may be very useful for wealth generation, investment, tax minimisation and distribution of income and capital. A qualified Asset Protection and Trusts Lawyer may have regard to your circumstances and advise you of the suitable trust structure that is compatible with your needs.

If you need further legal advice on your matter, you may book an appointment with us by telephone on (02) 9233 4048 or by email to info@navado.com.au. 

This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.