If you decide the purchase to purchase property in Australia by establishing a trust, the following steps should be considered:

• decide who you wish to appoint to be in charge of and manage the trust (trustees) and who will benefit from the trust (beneficiaries);
• instruct a solicitor to prepare a trust deed that explains the rules of the trust, what the trustees can do, and what the beneficiaries have the right to;
• ensure tax advice is obtained prior to establishing the trust;
• ensure, following establishment, that the trust is registered with the relevant State government;
• make sure the title to the property is transferred to the trust; and
• make sure the trustees are made aware of their responsibilities and what they need to do to comply with the terms of the trust deed and their obligations at law.

It’s important to remember that this is a general overview and different considerations may apply depending on the trust and the property. It’s best to talk to a lawyer who has experience with trusts and property to make sure everything is done correctly.

Should you need assistance in this area, please don’t hesitate to contact the Arena Law team.