Cheap Company and Trust Setup

[alexlee]

Ok, I realise you get what you pay for, but does anyone know of an accountant who does cheap company and family trust setups? Looking at some of the accountants recommended on the forum it seems that it'll cost $4k or something to set up a standard family trust with corporate trustee.

Given that I won't really need that much hand holding, and I know how to put together a set of accounts, can anyone suggest someone cheaper?
Alex

[Shadow]

Hi Alex,

I have just this week set up a Trust and Company Trustee through Chan & Naylor.

Total cost was $3K. I found C&N to be very professional and knowledgeable, and it only took a week to set everything up. This is their price list...

Company $1,085
Discretionary Trust / Hybrid Discretionary Trust / Property Investor Trust™ Deed $1,700
Unit Trust / Fixed Trust $1,480
Unit Trust / Property Investor Trust™ Package $2,850
Unit Trust / Property Investor Trust™ / Company Trustee Package $3,650
Bare Trust / Nominee Deed $1,650
Self-Managed Superannuation Fund $1,260
Express Service for Establishment of Structures (conditions apply) $110

Cheers, Shadow.

[Rolf Schaefer]

Hi Alex,
have a look at

http://www.chrisbatten.com/

to order your own trust deeds and company set up resource set.

However, you still may need some specific legal and/or financial advise.

Have fun.

[asdf]

Go to ASIC website and set up your own company - at the last Budget they slashed incorp costs by half. Something like $500 to register + incorp a company now. Then go to www.lawcentral.com.au and select your trust, incl HDT. If you know what you're doing you could even add specific terms to the deeds but then you'd need an accountant to do the returns for you unless you're doing them yourself.

[Trogdor]

Go to ASIC website and set up your own company - at the last Budget they slashed incorp costs by half. Something like $500 to register + incorp a company now. Then go to www.lawcentral.com.au and select your trust, incl HDT. If you know what you're doing you could even add specific terms to the deeds but then you'd need an accountant to do the returns for you unless you're doing them yourself.

Have you "done it yourself" ASDF?

[asdf]

Why does it matter? But for the record yes on the DT and no for the co. incorp. Also got my hands on their HDT though not using it as circumstances doesn't suit. Plus my accountant won't be savvy enough to do the accounts for a HDT.

[secret squirrel]

are the law central deeds hdt approved by ato. some do not seem ok. how do u know u set them up right. someone tell me carey and richstar mean u should be careful who is appointer and trustee. get it wrong and u stuffed. can someone summarise richstar holding for me. easy to read please.

[alexlee]

If I was setting up a HDT I would definitely go with an expert and not try to do it myself. I'm only interested in a standard discretionary family trust.
Alex

[DavidMc]

Hi Alex,
have a look at

http://www.chrisbatten.com/

to order your own trust deeds and company set up resource set.

However, you still may need some specific legal and/or financial advise.

Have fun.

I second that.

[tubs]

I used cleardocs last time for a company. $4k is far too much.

[secret squirrel]

i think alexlee means the hdt and company cost $4k. of course a company for $4k would be too much. but why would you have a company holding a negative gear property. it does not get the discount. bad structure tubs.

[tubs]

Sorry, I'm not suggesting a company hold the negatively geared property. That would be a bad structure.

I'm just pointing out that in my recent experience, cleardocs might be an inexpensive way to set up the desired structure, and would cost a lot less than $4k.

[Welcome]

I used http://www.incorporator.com.au/ for a company, i think was $150 plus ASIC fees.

Cheers

[bene313]

I've used Espreon a few times for SMSF set-ups. They do companies and trusts too.

For companies we usually use Panther Corp or ACN Direct.

[monoply]

Standard family trust should only cost about $300. Lots of places to get them. Your accountant can probably get you one for about that or go straight to a solicitor, or online. Only thing is you need to be a little aware of trust deeds. Most are fairly standard, but if you happen to get one which is a bit less flixible, you could run into problems.

Think a company costs around $1000.

Cheers
mono

[grossreal]

hi alex
i don't wish to suggest a company to organise them as they need to be setup for you.
put mnost of mine are Espreon as they seem at this stage to be the cheapest and the come over night and do a good job
I would not buy a off the self structure but they can supply you the skeliton and you put the rest of the bones in the structure
sorry your acccountant / legals but the bones in.
and sorry but there is no such thing as a standard family trust.
here is a couple
blood trust only family blood memebrs can vote or register
family name (only people with the same name can be members)
main name (so all members must have the same sirname)
only males are members of the trust.
only females are members of the trust
only siblings are members
only direct siblings are members
only all of the above but not until 21
same but 18
and then there are separate blood trusts
and bear trusts ( the banks loves these)
which are more again
so there is no such thing as a set trust but the one you want to setup in the way you want it setup and
yes
Espreon can set it up once tell them.

[XBenX]

Another vote for incorporator for the company setup.

[MattR]

are the law central deeds hdt approved by ato. some do not seem ok. how do u know u set them up right. someone tell me carey and richstar mean u should be careful who is appointer and trustee. get it wrong and u stuffed. can someone summarise richstar holding for me. easy to read please.


Richstar. In a nutshell, the court took a very simple view (kind of based on family law), that since;

The trustees is X
The appointor is X
The (main) beneficiary is X
The income has come from an entity X was an assoicate of.

Then in essence the trust is X and therefore an asset of X.

[Mry]

At this stage it is only based on the assumptions of one judge in a sort of pre-trial environment to gather a list potential assets for creditors to be counted in court. The assets of the trust may be thrown out in the actual trial based on our current understanding of what property is considered to be.

[alexlee]

Gross, there may be plenty of different types of trusts but I'm only looking for an 'ordinary' one. Named beneficiaries myself and my fiance, and the usual family members. In practice just my own children and maybe grandchildren and companies and trusts we own. That's pretty much it.

While your list is very interesting I have no need to dictate such specific terms.
Alex

[TheInvestor]

I think GGA were charging about $2500 for that setup.

I had them prepare my trustee company and HDT with no complaints at all. It took a little longer than a week, but i wasnt in a rush at the time.

Check out http://www.gatherumgoss.com/

[JamesGG]

I think GGA were charging about $2500 for that setup.

I had them prepare my trustee company and HDT with no complaints at all. It took a little longer than a week, but i wasnt in a rush at the time.

Check out http://www.gatherumgoss.com/


Hiya,

Mate, can you please email me? That should have only taken two days, at most, in ordinary circumstances... I would like to know a little more, if you'd care to indulge me.

Cheers

James.