Hi everyone, I am confused about family trusts and businesses/ companies and hope someone can help me. I have a spouse and 2 adult children. We already have a trading company in which I am the sole director and my spouse and children (including me) are shareholders. My children, drawing on company equipment and premises, will soon be commencing their own business. We would like to form a family trust to build and protect assets. Here are my questions: 1. I believe it is best to establish the trust with a non- trading company as trustee and that it would be unwise to have our existing trading company as trustee. Is that correct? 2. As there will be a trust, is it best for my children to start their business as a company or a partnership? 3. Do my children hold their business/company name within the trust or does the trust hold the name on their behalf? 4. Should their company (if that is the best structure to use) be trustee of the trust or does it mean we will have to create two additional companies - one for the trustee and one for the children's business? 5. How does it work if we, as parents, have established the trust but their business is producing most of the income that comes into the trust. 6. How does a company become a beneficiary of a trust and is there any benefit in doing this in regard to our circumstances. (for example, the existing company will be providing many of the resources for my children to commence their own business. Should this company become a beneficiary of the trust or should it charge the trust/children a fee for services provided and resources used?) 7. If my children decide to sell their company/business in the future, how does this work with a trust? Please help me clarify my thinking on these issues. As you can see, I am a real rookie so any advice or suggestions would be greatly appreciated. Many thanks.