
The Trust is an excellent tool to protect assets, avoid probate, increase personal privacy, and minimize taxes. However, TRUSTS are under-used and frequently misunderstood. This is not surprising when you consider the scarcity of written material on the subject.
A trust essentially comes into existence when one person (the creator, Settlor or Founder of the trust) hands over property and control of property to another (the Trustee) to be administered for the benefit of some person or persons other than the Trustee in pursuance of an impersonal object.
If a trust is not formed or administered correctly, it can create a nightmare that acts against the very reason for forming it in the first place.
When setting up a trust, making sure that a valid legal structure is created is vital as well as to understand the nature of the trust, the duties of the trustees and the rights of the beneficiaries.
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Gary Garbutt,
Head of Operations
Biz Facility Pty Ltd
(Registration number: 2011/105349/07)
Mission Statement:
To provide value added skills and tools through superior training and engagement that enables our clients to become more financially skilled.
Our Vision:
To provide practical skills and tools to small and medium business owners and individuals, in order to effectively utilize accounting data to manage their business or area of operation, and to effectively manage their tax obligations, both personally and professionally.
Biz Facility, founded in 2010, was founded to provide practical training interventions to small and medium sized businesses, as well as individuals, to equip clients in managing their business’s and tax affairs more effectively.Biz Facility provides both training and financial services to its clients: