Trusts & Self Managed Superannuation Funds

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Trusts

AMS LAW provides advice to clients on appropriate investment structures including for purposes of taxation and estate and succession planning and where appropriate recommend a trust structure for holding assets.  Our lawyers can assist with the preparation and variation of trust deeds as required

Generally, a trust allows a person to transfer assets out of their name while still keeping control of the assets. The advantages of a trust may include:

  • maintaining social security entitlements;
  • providing a mechanism to pass family assets to children even if a surviving husband/wife remarries;
  • capital gains tax and income tax advantages for example accessing favourable taxation treatment by ensuring all family members use their income tax “tax-free thresholds”;
  • providing for children with an intellectual disability or mental illness; and
  • protecting the family group’s assets from the liabilities of one or more of the family members (for instance, in the event of a family member’s bankruptcy or insolvency);
  • avoids possible challenges to a will following a death.

Where we recommend the use of a trust structure as a means of holding assets, we are able to advise on the most appropriate type of trusts that best suits our client’s needs which may be any one of the types of bare, fixed, discretionary or family trust.  AMS Law can also assist with the establishment of a self-managed superannuation fund by preparing the deed of trust establishing the fund and naturally we attend to all matters to ensure the fund complies with all statutory requirements upon commencement.

Self Managed Superannuation Funds

In this environment, expert legal advice is increasingly important. AMS LAW’s superannuation practice comprises a dedicated team of lawyers with extensive experience in all aspects of superannuation law and regulation. We guide clients through the myriad of regulations governing superannuation savings including taxation obligations.

Advice across the superannuation spectrum
Our proactive advice reflects the strategic decision making needs of our clients, from employer-sponsors to trustees of superannuation funds.

We guide and advise on fund trustee obligations, establishing and running self managed funds, borrowing in superannuation funds, submissions to the superannuation complaints tribunal, the distribution of superannuation assets on death, permitted early release, compliance and the acquisition, holding and sale of assets.

  • Setting up of trusts (bare, fixed, discretionary and family) and self-managed superannuation funds;
  • tax considerations and issues;
  • making and maintaining investments;
  • paying and structuring benefits;
  • limited recourse borrowing arrangements;
  • contributions and excess contributions tax;
  • estate planning;
  • reserves, anti-detriment and insurance.

Self Managed Superannuation Funds (SMSF) can borrow to purchase property. When buying property through your SMSF it is important to recognise some very important aspects of the law.

We will ensure that you do not breach your obligations under the appropriate superannuation legislation and that your transaction runs smoothly.

Our team has acted on behalf of hundreds of clients to set up the appropriate structures to purchase and borrow through SMSFs and to undertake the actual purchase of the property.

When setting up the structure it is important to ensure that the appropriate trust deeds including your SMSF trust deed and a bare trust deed are legally compliant. This does not just include legal compliance but also ensuring the requirements of your bank or financial institution are met. We have experience in dealing with all of the major lenders and we guarantee that our documentation will comply to all major lenders requirements.

The right advice is important and we encourage our clients to also obtain advice from their financial advisor and we will work with them.

See the Self Managed Superannuation Fund section of this web-site for further information.