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  • Profile photo of NahnaNahna
    Member
    @nahna
    Join Date: 2005
    Post Count: 8
    May 20, 2005 - 6:47 am

    Ok, so if I use a trust to invest in assets and protect them, will this provide me with a weekly, fortnightly or monthly income? As far as beneficiaries go, can you have as many or as few as you like? I am presuming that you can add a member (say when they are born), is this correct?

    Profile photo of NahnaNahna
    Member
    @nahna
    Join Date: 2005
    Post Count: 8
    May 20, 2005 - 1:53 am

    Visited the A/c the other week for less than 2 1/2 k he set up a Family Trust with a Pty Ltd Co.

    Can you tell me what you can do under this?

    Cheers

    Profile photo of NahnaNahna
    Member
    @nahna
    Join Date: 2005
    Post Count: 8
    May 13, 2005 - 5:28 am

    Well, here’s my story. Currently 25, my partner and I bought our house at 20, bought our first investment property at 23 (took a bit to convince my partner). I am looking forwarded to doing heaps more, still trying to convince my husband who thinks that doing one once a year is good.

    Profile photo of NahnaNahna
    Member
    @nahna
    Join Date: 2005
    Post Count: 8
    May 13, 2005 - 3:46 am

    Ok, but say I want to protect my assets now and not branch into the business (employing people) side of things for about 5 years, what should I do now that’s pretty simple to set up? I may not even do the “business” part at all. I want to be able to involve my family, which I thought that setting up a trust would be better, but can you get an income from a trust solely working for that trust? Is that what a trustee does?

    I hope that all makes sense.

    Profile photo of NahnaNahna
    Member
    @nahna
    Join Date: 2005
    Post Count: 8
    May 13, 2005 - 3:00 am

    I find that ING for savings is great (5.40%) if you are after a simple savings account, and ANZ have been really good to me.

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