All Topics / The Treasure Chest / What structure are you using ?

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  • Profile photo of Most excellentMost excellent
    Member
    @most-excellent
    Join Date: 2003
    Post Count: 100

    Hiya again,

    Just a general survey if anyone is interested, I have a thousand thoughts running through my head.

    What is / are the better structures out there ?

    Michael
    just be

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950

    hi michael

    Bricks are good but i also by weatherboard. Im happy with timber or steel frames. A few years ago i was interested in Straw Homes till i read a book and it put me off. i think it was “the three little pigs”
    Hope this helps.
    if you are talking about what structure to buy in it varies from person to person but most definately look into a family trust perhaps with a corporate trustee. Get a hold of Dale Gatherum-Goss’ “Trust Magic”
    see his web site
    http://www.gatherumgoss.com./
    regards westan

    Profile photo of Most excellentMost excellent
    Member
    @most-excellent
    Join Date: 2003
    Post Count: 100

    Westan thank you,

    Why corporate trustee ?
    Can you give me a qwik summary for & against ?

    Michael

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950

    hi michael

    you probably know the advantages of a trust i’ll go through them quickly
    1) Asset Protection and Estate Planning
    an assett can be protected from future threats ie being sued. a trust can continue for up to 80 yrs and even if you die the trust vehicle can continue on for the benifit of the other benificaries
    2) Tax Benefits for a Trust
    the profits from a trust can be distributed to the benificaries usually the lowest taxed first.
    the topic is huge, i had a lot of trouble understanding the benifits of a trust when i set up mine 6 yrs ago but the book mentioned above is a very simple yet detail reference to trusts. the book could save you thousands (hey i should be on commission).
    The advantagfe of a corporate trustee is it gives another teir of protection for the trusts assetts.
    regards westan
    Do you want me to email a few papes of the book so you get the idea ?

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