How trusts work australia?

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Scot Durgan asked a question: How trusts work australia?
Asked By: Scot Durgan
Date created: Tue, Sep 14, 2021 11:00 PM
Date updated: Mon, Jun 27, 2022 8:29 AM

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Trusts are mainly created to separate a person's assets from their personal estate. Once a settlor assigns those assets to a trust, they no longer own them, effectively shielding the assets from creditors in bankruptcy proceedings or plaintiffs in lawsuits.

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