Forum Replies Created
- Originally posted by Terryw:
And the company does not have to be trustee for you to distribute to. In fact, it may be better not to for asset protection reasons. What if you build up a substantial amount and the trust is sued?
The trustee company should be a non trading company. Not only if the trust is sued but the company can be sued also, but this is another can of worms easily avoided by using a non trading company as trustee.
The company will only be worth $2, would you sue a company worth $2.
I wouldn’t.A seperate company should be used for distributions of you must distribute funds to company, but you can also distribute to another trust. The options are endless.[thumbsupanim]
CATA
Asset Protection Specialist
[email protected]I train an econimics teacher that says she dosen’t do numbers!
This would be knowledge without power IMOP.
CATA
Asset Protection Specialist
[email protected]Could not have said it better myself Redwing.
CATA
Asset Protection Specialist
[email protected]If you set up a hybrid trust to start with, then issue no Special Income Units, the trust will act as a discretionary trust untill such time as units are issued.
Then it becomes a hybrid trust.
And the reverse also, if the hybrid trust buys back all units that were issued then it effectivly becomes a discretionary trust until more units are issued.CATA
Asset Protection Specialist
[email protected]And don’t forget to claim expences to and from your accountant.
eg. phone calls, klms, postageCATA
Asset Protection Specialist
[email protected]Congrats Peter
Goes to show if you are looking, the IP’s worth buying are out thereCATA
Asset Protection Specialist
[email protected]Use an airless spraygun. Put the pick up straight into the paint. Set pressure at about 3000 PSI and spray.
It is very messy as overspray goes everywhere, you can adjust it by adjusting the pressure. If spraying outside then get everyone to move their cars unless you want them painted as well.
Water based paints only.
Hire the equipment.
Prep is the key, ask any painter how to prep the walls prior to painting.
Chances are that you will make a mess, but it’s fun. Mask all windows and places you don’t want paint. This takes the time but I used 40 Lts of paint in 2 1/2 hrs, 2 coats inside a 2 bed unit. I used a netural colour so I could paint walls and ceiling the same colour.
Made a mess on the floor but as we were putting new carpet/lino in it didn’t matter.My wife came to visit mid morning and was worried that I hadn’t been able to get it started as I was washing out the airless sprayer, finished.
Never done outside before but will one day.
CATA
Asset Protection Specialist
[email protected]I thought so to Terry untill I heard this.
Can’t tell you anymore but it would have to have been extreme circumstances.CATA
Asset Protection Specialist
[email protected]Originally posted by Terryw:P. This can happen if investing in business or property, but not if investing in shares only.
Don’t be to sure Terry, this has happened before and will happen again.
Picture this, an accident has happened.
You invest in shares after the accident happened.
Lawsuit starts with the shotgun approach.
Court case is lost and shareholders (including you) need to pay damages and court costs.I know of a solicitor that this happened to and it bankrupted him.
CATA
Asset Protection Specialist
[email protected]A company trustee is by far the safest way to go for asset protection.
I know brokers who think they know how to do it but still manage to get it wrong, so find one who uses a hybrid trust themself and check them out.CATA
Asset Protection Specialist
[email protected]Hi Carlin
Tax Avoidence is illegal
Tax minimisation is not, and this is the technical name for what you want.I think you would be wasting your time meeting with that accountant again. If he/she didn’t know then they won’t know now.
CATA
Asset Protection Specialist
[email protected]This just poped into my mind.
REWARD Investments
Real
Estate
With
A
Rewarding
Difference[jerry]
CATA
Asset Protection Specialist
[email protected]Do not just look at price for a trust structure. Find out why the more expensive trust is more expensive.
Did the GG hybrid trust have a corporate trustee?
CATA
Asset Protection Specialist
[email protected]Be careful in this area. I believe that this type of structure is on the cards for elimination by 2009. I looked further into this for myself and believe that if you go into a structure like this you will need to be out of it by 2009 and so I did not set one up for myself.
Tread carefully but good luck.
CATA
Asset Protection Specialist
[email protected]It’s a short answer.
Do No Do It.
A super fund can purchase property but must pay cash, no borrowings allowed in superfunds.
CATA
Asset Protection Specialist
[email protected]Hi Grossy
I have some money invested in a managed fund that invests in china. Mainly in Macau but in other areas as well.
I checked it last week and to date have made 62% since November.I don’t know anything about the area itself but the fund managers do.
Can’t help any more than that but you know who I use in Vanuatu who put me onto this fund.
CATA
Asset Protection Specialist
[email protected]Superior Tax Solutions in Mt Eliza
If you have questions about the trust structure, send me an e-mail.
CATA
Asset Protection Specialist
[email protected]Thanks Stuart
CATA
Asset Protection Specialist
[email protected]It seems to be a trade off.
Asset Protection and other related benifits of tusts, or land tax (all though the unit trust is now a “special trust” so it will not get the land tax exemption either)In sunny Qld the trusts are not grouped (yet) so to minimise land tax a new trust is formed. Each state is different.
Ifyou arepaying some tax,you are making money
CATA
Asset Protection Specialist
[email protected]Originally posted by Qlds007:Trustees will certainly be required to offer a Guarantee irrespective of what type of Trust but NOT the beneficiaries.
Or the director/s of a corporate trustee.
CATA
Asset Protection Specialist
[email protected]
