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lukekenny
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The Father and son have had an accountant advise them on this and draw up documents, and have registered both the company and the trust prior to me signing anything. I received the documents today.

They show the company pty ltd has shareholders, and the shares are allocated as expected. There is a second set about the trust, saying the company pty ltd is trustee of the trust, it is a unit trust and I am a beneficiary as expected.

Perhaps my question is better asked this way…

Is the trust equivalent to an agreement as to how profits are being split?

If not, how do the profits of the business belong to the trust? Surely the profits of the business belong to the shareholders. What is the mechanism for linking the two, and how is that usually written down?