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Do I need an ABN for a family trust that will have no
Hi do I need an ABN for a family trust that will have no earnings (discretionary) … read more
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Are you attending to me now? QLD. There are two parts to the
there are two parts to the same story. 1. I have engaged a $500 ph accountant to negotiate a private rulling from the tax office 2. I have appealed against a Land Tax assesment and failed … read more
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Leon, From my understanding: A person is an entity. A
Hi Leon, From my understanding: A person is an entity. A company is an entity. A family trust is not a separate entity like a company it does not have an ACN, the assets and decisions are made by a Tr… read more
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I'm 71. and am aware that, if the situation arose and I had
I'm 71. and am aware that, if the situation arose and I had to go into an aged care facility, I would possibly have to sell my house (which I own outright to "buy' into the facility.) I have heard tha… read more
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Settlors of Trust are husband and wife in NZ . They set up
Settlors of Trust are husband and wife in NZ . They set up mirror trusts for the benefit of each other and after their death to the benefit of their children and grandchildren. Settlors die. The Trust… read more
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I have a business in Australia and I am selling online goods
I have a business in Australia and I am selling online goods on the US. My business is not registered in the US I have no office or employees in the US and I pay tax in Australia. Is it possible for s… read more
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hi, can someone please explain at what point do I need professional
hi, can someone please explain at what point do I need professional indemnity? I have a few business opportunities in action. 1. as an electrical contractor I have public liability 2 as a Lighting sho… read more
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I am the Executor of my daughters estate. I have contacted
I am the Executor of my daughters estate. I have contacted the Tax Office and Superannuation funds and now need advice about obtaining probate. Her estate consists of her bank account, a car and other… read more
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I am a beneficiary of a discretionary family trust .. a block
I am a beneficiary of a discretionary family trust .. a block of units in Australia. The settlors are my two sisters. One sister lives in the building and runs its affairs. There is considerable profi… read more
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Leon
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Hi, I am looking to start a consulting business, I am a Chartered
Hi, I am looking to start a consulting business, I am a Chartered Accountant, and I want to make sure that clients can't sue me or take my house if they rely on my information and it proves to be erro… read more
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We are farmers and our accountant is advising us to set up
We are farmers and our accountant is advising us to set up a discretionary Family Trust. Would this tie up the land if we want to sell in the future? What would happen to the trust if there is a death… read more
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In 2002 the corporate trustee of my discretionary family trust
In 2002 the corporate trustee of my discretionary family trust was placed in the hands of a R&M. I personally declared bankruptcy and was discharged after 3 years. The family trust has no assets - the… read more
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After we lived together I discovered my partner has before
After we lived together I discovered my partner has before the Court a disputed debt for $200,000 from his previous marriage. I used my own money of $400,00 to later purchase a property which was boug… read more
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Operating a discretionary trading trust - The business has generated little income in the past year, there are no physical assets - but $4000 cash at bank . A possible liability for $8000 through the … read more
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Hi, I am wanting to set up a descretionary trust and new company
Hi, I am wanting to set up a descretionary trust and new company which will be a "replacement arrangement" for our current company. My goals are assest protection and building wealth to buy properties… read more
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Hi, I live in Queensland, Australia and would like the following
Hi, I live in Queensland, Australia and would like the following question relating to distresionary trust anwsered, to our laws please. (I must prewarn you with my spelling. lol) 1/a. Distresionary tr… read more
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Leon
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What happens when one partner in a marriage is being sued for
What happens when one partner in a marriage is being sued for serious money and all major assets including the family home,holiday unit, investments and so on are either owned in the name of the other… read more
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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