Hi I am after some professional advice about structuring. I reside in adelaide and was wondering if anyone could make any recommendations preferably in lovely Adelaide.
Im aware of Dale, and NickM interstate.
My situation is that i own a few properties in my own name. I plan to continue purchasing property and shares - but am concerned about asset protection.
employee, self employed in future
No children, not married, 1sister, parents
no one with a low income to distribute to
If i purchase in discretionary trust - with corporate trustee - i have no other business income - and given that properties that i will purchase will be cashflow negative - this will be difficult without negative gearing
Hybrid discretionary trust - does it still provide enough asset protection given that my work environment lends to higher risk of being sued.
Advantage - can negatively gear still
My accountant is familiar with standard discretionary trusts but not hybrids - and Id like futher professional advice. Is it best to approach commercial lawyers?
Thankyou for your time
Im aware of Dale, and NickM interstate.
My situation is that i own a few properties in my own name. I plan to continue purchasing property and shares - but am concerned about asset protection.
employee, self employed in future
No children, not married, 1sister, parents
no one with a low income to distribute to
If i purchase in discretionary trust - with corporate trustee - i have no other business income - and given that properties that i will purchase will be cashflow negative - this will be difficult without negative gearing
Hybrid discretionary trust - does it still provide enough asset protection given that my work environment lends to higher risk of being sued.
Advantage - can negatively gear still
My accountant is familiar with standard discretionary trusts but not hybrids - and Id like futher professional advice. Is it best to approach commercial lawyers?
Thankyou for your time