Trustee Services

Comac Trustees Limited offers our clients continuity, impartiality, professionalism, integrity and expertise to ensure your Trust is hassle free and is being managed effectively and efficiently. Before we outline what services we offer, below is a summary outlining what a trust is and some of the benefits which will assist you in your considerations of whether a Trust is right for you.

What is a Trust?

A trust exists when one person (a "trustee") holds and owns property for the benefit of another person (a "beneficiary"). A family trust is a trust set up to benefit members of your family but there are other forms of trusts, such as charitable trusts and trading trusts.
The purpose of the family trust is for you to progressively transfer your assets to the trust, so as to divest yourself of any legal ownership of your assets. However, through the Trust, you may still have some control over the assets and provided you are a beneficiary of the Trust, you may be entitled to the benefit of these assets, depending on the terms of the Trust Deed.
You can set up a family trust either while you are still alive (by a declaration of trust contained in a trust deed) or when you die (by the terms of your will).

Why have a Trust?

There are many reasons why people establish family trusts. Some of the benefits of a family trust provide are:

• protection of your assets for the future
• protection of your assets against creditors
• provision for your family
• potential for tax savings
• helping protect against income and asset testing
• protection against possible changes to capital gains and death duties
• prevention and/or minimisation of claims against your estate when you die
• trustee Services

An independent trustee offers impartiality and independence when managing your family trust. On occasion, there are decisions to be made which may upset or aggrieve family members. With the appointment of an independent trustee, this removes you from the stress of making these decisions and the impact of them on your beneficiaries.

Governance and compliance in relation to the management of your Trust is crucial to ensure that your Trust meets the objectives that you intended it for. Comac Trustees Limited will keep proper records for your Trust and ensure that your trust is compliant with relevant legislation at all times.

In addition to the day to day management of your Trust, Comac Trustees Limited will attend to or facilitate payment of all accounts, preparation of annual account and tax returns, preparation of relevant resolutions where necessary. We will maintain regular contact with you and the beneficiaries of the Trust and regularly review that the Trust to ensure it is fulfilling the purposes for which it was established.