Setting up a Family Trust

Lady Bug

Have a look at http://www.cleardocs.com.au they have a great online site and does not cost a fortune. if you now what you want completion of the information is a breeze.

Hope it helps.

Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]

Get wealth Guardian. Will explain in detail the benifets of discretionary trusts in relation to property investing.
This will empower you as to what you want.

-Thomas

“More Time To Snowboard”

Have a look at Brett Davies Lawyers. they are in Perth. http://www.lawcentral.com.au

Terryw
Discover Home Loans
Parramatta
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Amazing that you should post this question as I was with Patrick from RMG Accounting in Subiaco only yesterday after waiting for weeks to get in to see him.

I was enquiring about trusts and which way to go and he suggested a Family Trust which he can set up for $450 – I thought that was very reasonable considering some of the posts in this forum where costs have been $1000 – $2500 depending on what trusts of course.

Patrick was recommended to me by the Investors Club so if he doesn’t know property then I don’t know who would! But be warned – he is extremely busy!!

Good Luck
Anita

hi Lady Bug
couple of things
a trust should cost 1,000 or 2.500 its around 200
a company is around 1,000 to 1,250.
as redwing says is right with disc trust but they are good as a base trust if you are to feed into this trust from other trust Ie make this your family/super trust which shouldn’t have losses or be negative geared another arm is used for this purpose.
if your accountant or advicer doesn’t do all types of trusts here is a few.
discretionary, family,unit,hybrid,bear, and sole,
ask about all if not familiar find some one over there that is.
as for busy, we all are busy people, book a time
redwing not sure about your costs as all should be the same they are for me.
all structures are different and I highly recommend that you don’t use my, redwing,psychic26296 etc or anyone else’s structure get one made for you and if the person doing the job doesn’t know what or how to do it get someone that does.
one last thing this is the most important part of anything that you are going to do in investing if that is what you are wishing to do.
so make sure you do it right.
I would ask not for them to sent up a family trust but what they would recommend to set up and in your conversation ask what these types of trust are and see how you go.
and good luck

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It will depend on what you want to do now and in the future. Sometimes a cheap trust is followed be large ongoing fees.
Also, you will never know just how good a trust is untill it is tried is court.

Price is not the most iportant factor is setting a structure in place.

A Family Trust can only distribute funds to family members.
A Discretionary Trust can distribute funds to anyone or any entity, as can a Hybrid Trust. Some believe that Hybrid Trusts are overused, and are overcomplicated.

CATA
Asset Protection Specialist
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