Advisers warn that Labor’s three-year rollover window on trusts is an Orwellian trap designed to strip investors of the main reason to have one: asset protection.

Historically used for everything from protecting knights to shielding women barred from property ownership, the discretionary trust now faces its ultimate test.

Advisers warn that Labor’s three-year rollover window on trusts is an Orwellian trap designed to strip investors of the main reason to have one: asset protection.