A family trust is a contract between two persons (The founder and the trustees) for the benefit of the third, called the beneficiary.
The document to set this up is called a trust deed and stipulates how the trust assets need to be administered. A trust that is setup during the lifetime of the founder is called an intervivos trust. Most family trusts are intervivos trusts and also discretionary trusts, meaning that the trustees have discretion as to how the trust will be administered in the best interest of the beneficiaries.
Some advantages of family trusts are asset protection, save on estate duty, income tax, capital gains, carry on a business and many more. To register your own family trust, complete the online application below and follow the instructions.