With years of experience in estate planning, our Melbourne team of Family Trust Lawyers understands the importance of protecting your assets. Whether you’re setting up a trust for asset protection, tax minimisation or inheritance planning, we’re here to guide you every step of the way.
With over five decades of experience, our team specialises in estate planning and family trusts. We use our deep local knowledge to protect your assets and secure your family’s financial future.
We offer transparent and competitive pricing for our family trust services. Our aim is to provide you with practical, cost-effective strategies without compromising on the quality of service and legal expertise.
We take pride in our thorough approach to family trust matters, ensuring every detail is carefully managed. From the initial setup to long-term management, your family’s interests are protected at every step.
At Tonkin Legal, our lawyers specialise in providing well-structured family trust services to help manage and transfer assets smoothly across Melbourne. With over 50 years of local expertise, our experienced team ensures full compliance with legal requirements while offering detailed guidance throughout the process. We can also assist with a full range of estate and family law services, such as trust-related matters during property and financial settlements.
Whether you’re establishing a new trust, transferring assets or managing your estate planning needs, you can trust us to handle all the necessary documentation and provide exceptional advice. We’re committed to making your property and estate transactions seamless, giving you peace of mind for the future.
Our free guide explains the key advantages of testamentary trusts, including tax benefits, asset protection and flexibility for your beneficiaries. Learn how this powerful tool can help secure your family’s future and ensure your assets are protected.
Trusts play an important role in family law matters, offering protection and clarity during divorce or separation. They can help shield assets from being divided or claimed during legal proceedings, ensuring that family wealth remains intact.
Trusts also allow for the careful management and distribution of assets, particularly when children or beneficiaries are involved. In family law, having a trust in place can minimise disputes and provide a structured plan for asset distribution, protecting both parties’ interests.
Selling a property can be complicated, and having a trusted, knowledgeable conveyancer on your side makes all the difference. Our conveyancing team handles the preparation of all legal documents, such as the Contract of Sale, to ensure the entire process goes smoothly.
From dealing with buyer negotiations to preparing settlement figures, we’ll ensure everything is in order before you sign the dotted line. With Tonkin Legal, you’ll receive a clear breakdown of council rates and stamp duties, as well as all the necessary paperwork to complete your property sale quickly and securely.
Establishing a family trust can seem overwhelming, but with our expert team, you’ll have trusted professionals guiding you through every step. Whether you’re setting up a new trust, managing assets, or planning for the future, we handle all the legal complexities for you.
We take the time to understand your needs, draft and review all trust documents, and ensure a seamless process from start to finish. Our team provides clear, straightforward explanations, helping you understand complex legal terms and make informed decisions for your family’s future.
When it comes to family trust law in Melbourne, Tonkin Legal brings unmatched expertise. With over fifty years of experience, our team of skilled professionals provides well-structured solutions for establishing, managing, and transferring assets within family trusts. We’re dedicated to offering top-tier service, ensuring your assets are protected and your family’s future is secure.
Whether you’re drafting and negotiating trust deeds, setting up a new trust, or managing trust variations, our team works closely with you to ensure compliance and effective management. Contact us today for a consultation, and let us handle all your family trust needs with precision and care.
With over 50 years of local expertise, our team is deeply knowledgeable in family trust law and asset protection. From trust establishment to trust deed drafting, we help to ensure your assets are safeguarded, and your family’s future is secured.
We assist in setting up trusts and ensuring that all legal documents are properly drafted and executed. Our team provides expert guidance on selecting the right type of trust, ensuring your assets are protected and distributed according to your wishes.
We work closely with you to create a comprehensive estate plan, including drafting a legally binding Will. Our goal is to ensure that your assets are distributed as per your wishes, minimising tax liabilities and avoiding family disputes.
Our team manages the day-to-day administration of your trust, ensuring compliance with legal requirements, accurate record-keeping, and timely distributions. We handle all aspects of trust management, providing you with peace of mind.
We provide professional drafting and negotiation of trust deeds, ensuring that your trust is well-structured and legally sound. Our experts make sure the deed aligns with your intentions and complies with current legislation.
We assist in amending existing trust deeds to reflect changes in your circumstances or objectives. Whether adjusting beneficiaries, trustees, or terms, we ensure that all variations are legally compliant.
In the event of trust or family law disputes, we offer expert advice and representation to resolve conflicts efficiently. Our team works to protect your interests while ensuring a fair resolution in line with the trust’s terms.
We guide you through the process of transferring assets into or out of a trust, ensuring compliance with legal requirements and minimising potential tax implications. Our experts handle the documentation and ensure a smooth transfer of assets.
We assist with the probate process, ensuring that the deceased’s estate is administered according to the Will. Our team helps obtain the Grant of Probate, manage estate assets, and distribute them to beneficiaries in a timely manner.
Contact us today for a competitive, transparent quote on all your family trust and estate planning needs. Our pricing is in line with local firms, but you’ll benefit from expert legal guidance and the experience of a trusted law firm.
From trust establishment to asset transfers and probate administration, we’ll manage every aspect with care, ensuring your family’s future is protected. Trust us to provide peace of mind as you secure your assets and plan for the future.
PARTNER – Accredited Specialist in Family Law
St John Heath is a Partner at Tonkin Legal Group and a leading Family Lawyer in Victoria.
Accredited Specialist in Family Law
Richard Tonkin is a Consultant Lawyer and one of Victoria’s most experienced and respected Family Lawyers.
To establish a family trust in Australia, you’ll need to create legal documentation, including a trust deed that outlines the roles and responsibilities of trustees, beneficiaries, and the terms of the trust. A family lawyer or chartered tax advisor can assist with drafting the deed to ensure it complies with specific laws. The process may also involve appointing trustees, setting up an Australian Business Number (ABN), and registering the trust with the Australian Tax Office (ATO) for tax purposes.
Setting up a family trust allows for tax planning, asset protection and effective succession planning. It can help minimise capital gains tax (CGT) liabilities, protect assets from creditors, and manage family businesses or other financial agreements.
Family trusts are also beneficial in ensuring vulnerable beneficiaries are provided for. They offer a flexible structure, particularly for managing family property settlements, de facto relationships and issues relating to relationship breakdowns or other unique circumstances.
A family trust is primarily designed for asset protection, tax efficiency and wealth distribution among family members. It allows for the management of family assets, including business interests and property, with the flexibility to allocate income and capital gains to beneficiaries in a tax-efficient manner. It also plays a key role in succession planning, ensuring that assets are passed on according to the wishes of the settlor while minimising legal costs and avoiding lengthy court proceedings.
The cost of setting up a family trust can vary depending on the complexity of your needs and the legal services required. On average, fees range from $1,000 to $4,000, which may include legal documentation, trust deed drafting, and advice from a family lawyer or chartered tax advisor.
Ongoing legal costs for trust administration, compliance with tax laws, and other financial agreements can add to the overall cost. It’s advisable to seek clear estimates based on your specific circumstances.
Whether a family trust is worth setting up depends on your financial and family goals. A family trust can be extremely helpful for those looking to protect assets, manage family businesses, minimise tax liabilities, or ensure succession planning.
It provides a structured way to manage assets, particularly in complex family situations or when dealing with de facto relationships, vulnerable beneficiaries, or property settlements. Consult with accredited specialists to assess your unique circumstances and determine if it’s the best option.
A family trust offers several tax benefits, including the ability to allocate income and capital gains to beneficiaries in a way that minimises overall tax liabilities. Income can be distributed to family members in lower tax brackets, reducing the overall tax burden.
Additionally, capital gains tax (CGT) may be minimised by managing the timing of asset disposals and taking advantage of CGT discounts for individuals. A chartered tax advisor can help with tax planning strategies tailored to your trust’s needs.
Family trusts are generally taxed at the individual beneficiary’s marginal tax rate on any income they receive. However, if the income is not distributed, the trust itself may be taxed at the highest rate.
Family trusts also benefit from CGT discounts when assets are held for over a year. Trustees must report the trust’s income and file tax returns with the ATO. It’s essential to work with a family lawyer or tax advisor to ensure compliance and optimise tax outcomes.
Yes, your salary can be paid into a family trust, but it depends on the structure of the trust and your role as a beneficiary. Generally, the trust needs to distribute income to beneficiaries in a way that complies with tax laws.
However, paying your salary directly into a trust may have implications for tax planning, especially regarding PAYG withholding and superannuation contributions. Consult with a family lawyer and chartered tax advisor to determine the best approach for your specific situation.
Family trusts offer a flexible solution for protecting assets in blended families or second marriages. They allow for assets to be distributed according to your wishes, ensuring that children from previous relationships are provided for while also protecting your spouse’s interests.
Trusts can prevent disputes over property settlement and inheritance issues, which may arise during a relationship breakdown or following the death of one spouse. With proper legal advice, trusts help protect family assets and ensure that your estate is managed in the best interest of all parties.
Yes, a family trust can have multiple trustees. It’s common for a trust to have one or more individuals or a corporate trustee, depending on the trust’s needs and structure. Multiple trustees help ensure the trust is managed properly, with decisions made collaboratively.
However, it’s essential to clearly define each trustee’s role in the trust deed to avoid disputes and ensure compliance with the trust’s terms. Legal documentation should also clarify responsibilities to minimise the risk of future legal matters or court applications.
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Contact us today on (03) 9435 9044
8-10 Flintoff Street
Greensborough
VIC 3088
Email: mail@tonkinlaw.com
Fax (03) 9435 2452
PO Box 241, Greensborough VIC 3088DX98803 Greensborough