Hi there,
I know this is a huge topic and people can write books around this, but I have a question about asset protection and unit and discretionary trusts and companies.
The specific circumstance is that my partner is separated with two children (but not yet divorced or settled – even though it has been 2 1/2 years – but that is another story). We wish to start investing in property, but also to protect his assets from his (ex) wife. He pays all the child maintenance and school fees etc and is happy to do that, but wants to be protected from claims from any property portfolio we might build up in the future.
Would a hybrid trust be sufficient or does that still leave him liable ? What if I was the sole trustee and we and his kids were benefactors ?
What is the benifit of using a company as the trustee ?
Has anyone done anything like this under these circumstances,
Thanks in advance,
Milla
Hi Milla
I have been looking at establishing a hybrid family trust and company trustee structure but for different reasons to yourself.
My advice would be to do some reading up beforehand, although it sounds like you have already, and then consult a solicitor who specialises in these kinds of structures.
This is something you will need to get right the first time to avoid future expense and / or unpleasant surprises.
I do have a whole lot of information but it’s at home and unfortunately i’m not.
Renton has one or two books on the subject, I also obtained some information from Chris Batten, http://www.chrisbatten.com.au I think.Regards
Clive
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