If you’re setting up an LLC for your crypto holdings and also asking about a family trust, the jurisdiction you’re in changes the answer completely. An LLC is a US concept you can generally handle no matter where you live. A family trust is not one universal thing, it’s a legal structure defined differently by each country’s tax authority, and treating it as generic estate planning is where people get into trouble.
Why “family trust” means something specific in Australia
In Australia, a family trust is an actual, legally defined entity with its own distribution rules, beneficiary requirements, and tax treatment under the Australian Tax Office. It isn’t interchangeable with the kind of revocable living trust common in US estate planning, and it isn’t something you can set up correctly using US-focused templates or a generalist attorney. The rules around how income gets distributed to beneficiaries, what counts as a qualifying beneficiary, and how the ATO treats trust distributions are all Australia-specific.
Why local expertise matters more than it seems
The instinct to treat trust and LLC formation as a single administrative task is understandable, but it misses that these are two different legal systems with different reporting obligations. Someone who deals with the ATO regularly will catch distribution or beneficiary issues that a US-based advisor simply won’t know to look for. If you’re setting up cross-border structures, the LLC can typically be handled from wherever you’re working with your existing team, but the trust piece needs someone licensed and experienced in that specific jurisdiction.
A practical way to think about layering structures
A common approach for people operating across two countries is to use the LLC for operational flexibility, holding and managing assets day to day, and layer a jurisdiction-appropriate trust on top for asset protection and estate planning. Each piece is handled by someone who specializes in it rather than by one generalist trying to cover both.
Before you engage anyone, verify their credentials directly and confirm they specialize in the specific structure you need, rather than working from a referral alone. And review the basics of estate planning so you understand what questions to ask before you sign anything.
Educational only, not tax, legal, or investment advice. Check primary sources and speak with a qualified professional before making financial decisions.
