Results 1 to 5 of 5

Thread: Family trusts

  1. #1
    Member
    Join Date
    Jun 2007
    Posts
    85

    Family trusts

    Gene Cafe Coffee Roaster $850 - Free Beans Free Freight
    Hi folks,
    Am looking to set up a family trust. I know lawyers do this for you, but can anyone tell me if accountants are also able to do this ??
    Thanks for any answers,
    Cheers,

    buff

  2. #2
    Senior Member
    Join Date
    Jun 2008
    Posts
    1,520

    Re: Family trusts

    no its a lawyer thing...

    i would suggest discussing it with and accountant and then a qualified financial planner 1st.

    they all do different things and there may be no benefit in a trust if not thought about in tax / fin planning and legal ways.

    "trusts" in general are useful if you have a complex business empire, if you work for wages and dont have an empire it can be counter productive in tax and effectiveness stakes.

    if your on "wages" something to consider is a testamentary trust built into your will that can protect your assets within the family (mostly your kids) from "gold diggers" etc.

    please discuss it with your financial planner, accountant and lawyer.

    # this is not financial / legal advice... please consult the back of the weetbix box i was just reading....


  3. #3
    Member
    Join Date
    Jun 2007
    Posts
    85

    Re: Family trusts

    Thanks Maheel !....I did just that...rang accountant to arrange an appointment...was advised that if family trust was the go, then they will set up trust, and just get lawyer to do the legals.
    Cheers,
    buff

  4. #4
    Senior Member
    Join Date
    Jun 2008
    Posts
    1,520

    Re: Family trusts

    IMO its well worth the effort (and expense) to seek professional advise in regards to your financial future.

    With a little effort and a bit of commitment most people have the ability to become wealthy and have financial freedom given time.

    I am not talking about those "professionals" who just want to flog you managed funds / tree plantations and income / death insurance protection..... not that there is anything wrong with MFunds or insurance just jokers who sell it for their commission and not your best interests.

    this ends my rant ..... :D

    sounds like your already on your way Buff :)


  5. #5
    Senior Member
    Join Date
    Mar 2009
    Posts
    553

    Re: Family trusts

    I use to set up companies and trusts, if you would like to chat PM me and well talk.

    Been out of it for a while tho, but I believe they havent changed to much.

    BTW. not all accountants, lawyers or financial planners are good with these things. They are a slippery slope if done wrong.



Similar Threads

  1. Faema Family
    By MPW in forum Brewing Equipment (non-machine specific)
    Replies: 5
    Last Post: 21st July 2008, 11:32 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •