Australian trust law

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Trust law in Australia

In Australia, trust law is under the jurisdiction of state governments, and the legislation often interacts with Corporations law and Family tax law. Equity still regulates trust law to a significant extent, and Australian law has often followed English developments.

There are a variety of trusts recognised and used in Australia, including Unit trusts, Discretionary trusts and Hybrid trusts. Testamentary trust are also sometimes used.

A discretionary trust is often known as a "family trust" in Australia.

Family Trusts are often used to distribute income to beneficiaries in an attempt to achieve the most desirable tax outcomes available to the members of the trust. Discretionary or "Family" trusts also protect assets when individual members become insolvent or bankrupt. Asset protection also extends to other types of liabilities.