Accounting for Family Trusts Melbourne
Protecting your family’s future starts with the right structure. At PCR Accounting & Advisory, we specialise in accounting for family trusts, helping you set up discretionary trusts, manage assets, and stay on top of your compliance responsibilities—so your family’s future is safe and well-planned.
Secure Your Family's Financial Future
Expert Accounting for Family Trusts
A family trust, when structured correctly, can help protect and grow your family’s wealth, manage tax efficiently, and provide financial security for education, retirement, or business succession.
But setting up a family trust can be complex—and getting it wrong can be costly. Our team ensures your family trust is structured correctly, aligned with your goals, and designed to deliver the best outcomes for your family now and into the future.
PCR’s experienced team of accountants for trusts provides honest advice, clear communication, and tailored trust structures and strategies, delivered through professional, reliable service that safeguards your wealth.
Smart Family Trusts Structures for Every Stage of Life
Family trusts aren’t just for retirees—they’re a smart tool for entrepreneurs, professionals, and young families. They protect assets, manage income, and give you flexibility to grow and distribute wealth. Contact PCR today to set one up early so you can plan smarter and secure your financial future.
Plan, Protect, Prosper
Family Trust Planning 101
Setting up a family trust isn’t like opening a bank account; there are many factors to consider to ensure it works as you want, without any undesirable legal or financial implications. This includes:
Whether you need a discretionary, unit, or hybrid trust, depending on your needs for flexibility and control.
Decide who manages the trust and who can receive distributions.
Establish rules, powers, and decision-making processes.
Be clear what the trust is for: asset protection, tax planning, business ownership, education, retirement, or a combination?
Decide what goes into the trust and how it will be managed.
Plan for income distribution, capital gains, and compliance obligations.
Ensure decisions and continuity are secure in the long term.
Be aware of costs for setup, ongoing accounting, and compliance.
Managing Setup & Compliance for Family Trusts
Why Choose PCR to Set Up Your Family Trust?
Discretionary Trusts Designed to Fit You
Find the Right Family Trust Structure with PCR
Setting up a family trust is more than just signing a legal document—it’s a strategic decision that can impact your family’s wealth, tax obligations, and financial security for years to come.
Our experienced accountants for family trusts ensure your family trust is structured correctly from the start, helping you:
Navigate complex tax rules and compliance requirements
Choose the right type of trust and distribution strategies
Protect assets and minimise risks for beneficiaries
Align the trust with your long-term financial goals
A well-planned discretionary trust can provide strong financial foundations—whether it’s funding education, boosting retirement savings, managing business assets, or protecting property. We’ll help you navigate the complexities, maximise benefits, and ensure your family’s future is secure.
Tailored Accounting for Family Trusts You Can Rely On
Thinking about a family trust, but not sure where to start? Contact PCR Accounting & Advisory to see how our accountants for trusts can help you with your discretionary trust setup, trust tax compliance, family investments, and wealth protection. Call us on 03 9847 7516 today.
Owner of PCR Accounting & Advisory, Peter Marmara-Stewart is a SAPEPAA foundation member and accredited advisor specialising in strategic business advice, asset protection & structuring and cashflow maximisation. Click here to find out more.
Family Trust FAQs
A family trust, also known as a discretionary trust, is designed to hold assets and ultimately benefit family members. A family trust is established by someone during their lifetime to manage certain assets or investments and support beneficiaries, such as family members.
Unlike a company, a trust is not a separate legal entity. Instead, it is an agreement between parties confirmed in the form of a trust deed. The trust deed is the legal agreement that will govern the operation of the trust and the role of each party to the trust.
A family trust will hold the chosen assets, such as a share and property to protect them from creditors and to distribute your dividends to your family members for more favourable tax outcomes. The trustee has discretionary powers to decide which beneficiary will receive the trust’s net income and capital gains each year and how much.
This provides control, security and confidence in keeping your assets with your chosen family members.
A family trust can be a powerful Estate Planning tool by giving greater control over how assets are managed and distrusted amongst beneficiaries both when you are running your business and when you are no longer around.
If you have a lot of assets or run a business, it is never too early to set up a family trust. And no, you don’t have to have children to create a family trust. You also get to choose who will be included within the trust deed, so you don’t have to feel obligated to include someone who you don’t wish to.
Trusts have 4 key parties:
- The Settlor: A solicitor, accountant or another qualified person that assists in setting up the family trust. This is the role we generally take on.
- The Appointer: the is the person who wishes to set up the trust (most likely you).
- The Trustee: the person who manages the trust day-to-day and distributes the assets at their discretion, and;
- The Beneficiary: the person/s or company who receives the benefits and entitlements of the trust.
The benefits of setting up a family trust include:
- Flexibility in Distributing Income and Capital Gains
- Asset Protection
- Low Set-Up Costs
- Tax Benefits