My husband and me are not very familiar about the law stuff but we found that if we want to set up an investment portfolio(no matter stock or property), we would better to set up a family trust. We roughly went through the details about family law, but still not get a clear idea. Actually, my husband’s earning about 70k to 80k a year (depends on Overtime varies) and I’m just an uni student (no paid), without child as well. Do we better off to set up a family trust to start our investment ? What’s the benefit ?
Thanks !
Recommend you do a search on ‘trusts’ as the topic has been discussed at length previously. Check out the ‘link’ under forum boards to the top left of screen.
You can also go to http://www.gatherumgoss.com and order a book called ‘Trust Magic’ – could be the best $99 ever spent.
Derek
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Get a really good accountant and make sure you know exactly what it is that you want to do first. I have a trust myself but with the recent changes in tax law using a trust isn’t as tax happy as it used to be.
P
Thanks Derek & waprincess
[exhappy]
as your not working, a trust would probaby help you save tax. talk to an accountant.
Terryw
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