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I have a purchased a house under a trust however the
I have a purchased a house under a trust however the business no longer trades and i have no income, but do have a tenant in the property, if the bank sees me as a financial risk Can the make me sell … read more
John Melis
John Melis
Lawyer
Bachelor's Degree
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I HAVE A FAMILY DISCRETIONARY TRUST WHICH HAS OWNED A
i HAVE A FAMILY DISCRETIONARY TRUST WHICH HAS OWNED A RESIDENTIAL PROPERTY SINCE MARCH 1986. … read more
John Melis
John Melis
Lawyer
Bachelor's Degree
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Along with 3 other family members we established a unit
Along with 3 other family members we established a unit trust to buy a property. The structure has the 3 beneficiaries with the partners as trustees. Unfortunately this structure does not suit our goa… read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
Are unpaid UPE's to family members considered part of the
Are unpaid UPE's to family members considered part of the pool of assets. These has been a history of distributions and some payments for 10 years. therefore a liability. … read more
Leon
Leon
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Master's Degree
52,100 satisfied customers
I am in my mothers will as a beneficiary with my brother
I am in my mothers will as a beneficiary with my brother also a beneficiary and the executor. I want to be removed from the will and my brother agrees. The reason is I live in Australia and am going t… read more
kmslaw
kmslaw
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Bachelor's Degree
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Buying into a business in Victoria. They were operating as a
Buying into a business in Victoria. They were operating as a Pty Ltd under a standard company structure. Then gained accountant advice to save on tax they should transfer all revenue accounts\clients … read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
We purchased a block of land in Perth in 2005 and signed the
We purchased a block of land in Perth in 2005 and signed the offer and acceptance form in our own names as Trustees of our Discretionary Family, a house was built and Family Trust monies were used to … read more
Patrick H.
Patrick H.
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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
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
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
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
Question on trust deeds: discretionary & family trusts. Should
Question on trust deeds: discretionary & family trusts. Should they be stamped, by whom and what key critical things to look for when a trust is borrowing money, mortgaging or entering into a debt arr… read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
I need some advice for an existing family trust. Changing
I need some advice for an existing family trust. Changing the existing Trust to include Hybrid fixed and discretionary so the Trust lives on after the death of a main beneficiary. Do you handle this t… read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
If members of a family set up trust which owns property, can
If members of a family set up trust which owns property, can a spouse (who is not a member of the trust) of a member successfully make claim from the trust in the event of a divorce settlement?… read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
With a family trust, can I distribute income to both a company
With a family trust, can I distribute income to both a company and individual beneficiaries? Can all the income be distributed to the company? If assets are held in the trust for longer than 12 months… read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
My husband had a discretionary trust already set up prior to
My husband had a discretionary trust already set up prior to our marriage over 20 years ago. This trust specifically did not include spouse as a beneficiary. Over the years we have purchased and accum… read more
Leon
Leon
Solicitor
Master's Degree
52,100 satisfied customers
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
Peter G.
Peter G.
Solicitor
Bachelor's Degree
767 satisfied customers
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
Maurice
Maurice
Lawyer
Master's Degree
1,980 satisfied customers
I am the sole director of a PTY LTD. There is one shareholder.
I am the sole director of a PTY LTD. There is one shareholder. The shareholder wishes to retain me as director and is prepared to give me 49% of the shares. I would prefer to create a discretionary tr… read more
Brisbane-Lawyer
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
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
Brisbane-Lawyer
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers

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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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