Bloodline Trust

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Sonja
Member
@sonja
Join Date: 2004
Post Count: 338
December 19, 2004 - 9:43 am
On behalf of two young boys (aged 2 and 5) who have just lost their father, would anyone be able to share some information on bloodline trusts.
Those closest to the children are unable or unwilling to be responsible for the boys share of the estate for various individual reasons. I thought a bloodline trust would ensure that the boys inheritance would remain safely theirs.
Any info on this, or a better idea if you have one, would be appreciated.
Cheers
Sonja
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 19, 2004 - 9:59 am
I think the Bloodline Trust would have had to be created before the father died. I believe it is too late for that.
Regarding the existing assets, the new guardian will probably become the trustee for the children. If there are no relatives, it may be the Public Trustee.
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Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
December 20, 2004 - 3:51 am
Have a look at this:
http://www.sjq.com.au/sjq/site.cfm
For some good info on various trusts.
Terryw
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