All Topics / Help Needed! / Company's and Trusts

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of Nathan HouareauNathan Houareau
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    @the-general
    Join Date: 2006
    Post Count: 107

    Hello everyone

    I have a trust but no company at the moment.
    Can I buy using “Nathan Houareau ATF Royal Estates Trust” and then change who the trustee is later on?

    I think I can but I am just chasing confirmation.

    Thanks

    Nathan

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    Profile photo of RedwoodRedwood
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    @redwood
    Join Date: 2013
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    Nathan a trust needs a trustee, I always go company as trustee but this will depend on your circumstances and what your trying to achieve, I assume the name title is an individual so do a company search and see if thats available, but I would not use my name in a company…..i.e not full name.

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
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    Profile photo of Nathan HouareauNathan Houareau
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    Hi Ivan
    Can I use my personal name(i.e. as individual) as trustee for the time being while I get a company set up and then switch trustees later from my personal name to that of my newly formed company?
    Cheers
    Nathan

    Nathan Houareau
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    Profile photo of TerrywTerryw
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    Hi IvanCan I use my personal name(i.e. as individual) as trustee for the time being while I get a company set up and then switch trustees later from my personal name to that of my newly formed company?CheersNathan

    Get some legal advice.

    A trustee possibly can be changed, but the consequences need to be considered such as:
    – Who has the power to change
    – control
    – stamp duty
    – changing titles
    – reapplying for loans
    – serviceability down the track
    – change of company and stamp duty down the track.
    – cost

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://Terryw.com.au/

    Profile photo of tanner892tanner892
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    Hi IvanCan I use my personal name(i.e. as individual) as trustee for the time being while I get a company set up and then switch trustees later from my personal name to that of my newly formed company?CheersNathan

    Yes but the specifics/provisions to do so should be set out in the Deed, it could also be a big administrative hassle as all assets will need to be re-registered in the name of the new trustee, it would be highly recommended to have the company already set up as trustee before undertaking any activity

    Profile photo of StoreybuilderStoreybuilder
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    Profile photo of TerrywTerryw
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    @terryw
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    the property couch podcasts are generally good – but not this one. Best to avoid it.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://Terryw.com.au/

    Profile photo of Nathan HouareauNathan Houareau
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    @the-general
    Join Date: 2006
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    Thanks for the advice. I’ll get some legal advice.

    Nathan Houareau
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    Profile photo of StoreybuilderStoreybuilder
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    Haha sorry Terry!

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