Hi Trish

I don’t mean to sound rude but that’s a headake waiting to happen.
Yes I guess it can be done but it would be far easier (and cheaper) to decide first how you are going to purchase the property.

There is also time issues when setting structures in place nd the contract may not be long enough.

Hope this helps

CATA
Asset Protection…[Read more]

Hi Andrea

Yes I believe that if you have assets worth protecting then keeping them in some sort of structuring. The trust could be broken into in rare cases (this will depend on how good the trust deed is).

You can have the future beneficaries that Terry mentioned,but you could also have a company and friends as beneficaries.

There is a number…[Read more]

Kudos to you Steve for doing your best and being totally commited to it.

I like your style. [thumbsupanim]

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

If you want to get the negative gearing affect with a trust, one way is using a Hybrid trust. There is a number of options for this and thinking a little different can sometimes be benificial.

You will need some goals and investment stratagies before structuring.

E-mail me if you want to chat.

CATA
Asset Protection…[Read more]

Don’t limit yourself to Darwin Meg.
There are some great accountants all over the country and they are only a phone call away.

I live in Brisbane and I know of 2 great accountants, neither of which are in Queensland (one in NSW and one in VIC which is the one I use most)

Between phone, fax, e-mail, and post you should look outside your backyard…[Read more]

That would depend on your investment stratagie and goals Sue.
I presume that you intend to purchase IP’s in the company, this I would reconsider for asset protection and tax purposes.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

From my sources (and others have different opinions) that investing through SMSF into unit trusts will be outlawed by 2009.

Others have different opinions.

I don’t know of property warrants and the structuring they are using. It sounds to me that they are renaming the units as warrants and pitching the same thing. Much the same as the Property…[Read more]

I haven’t heard of them before, but it is probably using your SMSF to invest in a unit trust, which could then borrow the rest of the money to purchase an IP. It sounds like a marketing pitch to me as it is nothing new to do this.

However I have been informed that this will be outlawed be 09, so do your own due dilligenge and make an informed…[Read more]

If you loan money to a trust and are sued personally, the loan is seen as an asset to you personally. in this case the loan could e recalled as payment to a litigant.

Hope this helps

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

My idea of retirement in not having to work, but wanting to is a different story.
If you enjoy working but have enough cashflow without working is my version of retirement.

By the way, I turned 30 this year. [biggrin]

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Hi Salocker

It sounds straight forward to me, depending on your investment stratagie and your choice of trust. Most lenders are getting better with trusts but you will need a broker who knows how to fill in the paperwork (to moke it easier for the bank if they have a problem)

There are some knowledgable brokers on this site and you could do alot…[Read more]

Hi Stu

Or should I call you Allan Bond (I think that is what he did).
The courts can unwind these type of situations if you are insolvent before the change up to 5 years in the past.

The only way to get arroung this would be to transfer the asset to an unrelated entity offshore, but this brings up the spotlight on yourself.
Probably jail time in…[Read more]

I believe that the family law courts can look through any structuring, and see it as joint ownership.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Ok F, I’ll play.

I think that the bank valuation of the marbles would be 366 lollies. My expirence is that the banks are about 6 months behind the markets.

Which makes the market value of the marbles 396 lollies.

Other factors to take into consideration is supply and demand. If there is 2 kids that want the marbles then more lollies could be…[Read more]

Mowing the lawn seems to be missing, simple but it amazes me how many properties are for sale with long grass.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Add to that not living with them either Terry.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

Originally posted by alexlee:

Just attacking something because you don’t understand means you’ll miss out on a lot of opportunities.

Fantastic attitude for an accountant Alex. I have come accross some norrow minded ones.

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

This is yet another reason to find out about different structuring options. Family trusts are not the only way to go.

Thanks Noddies

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

The first thing I noticed Foundation is that this is your 666th post on the 6/6/06.

Are you the devil?
Is that long post some kind of punishment from hell?

Just joking[strum]

CATA
Asset Protection Specialist
wardlecata@primusonline.com.au

I would not rent to family again without a manager.
This would have saved us alot of trouble. It’s the little things like “The light bulb in the kitcken is broken, when can you fix it?”

This was one with a manager, and we told her that we have a manager for a reason. We did not want the Sunday get together to become a maintence checklist.

She…[Read more]