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Hi Alex We normally do the following: have the minutes reflect that the profit was distributed to the child have the tax return reflect that the profit was given to the child have the accounting statements show that the profit was paid direct to the parent. So, we assume that the...

Hi Alex Some trusts have a cleverly worded clause that allows distributions to be given to the children, but, the money be paid to the parent to use on behalf of the child's medical and education costs. Hence, the child is owed nothing at all and cannot make a claim on the trust. Dale

Hi Thank you. I ahve already told you though that the advice in the book is incorrect and clearly ignorant. There is nothing more that I can add that would be helpful to this thread.... A trust is not for everyone. But, it is the lies and rubbish sprouted by people that upsets me. Dale

Hi There has to be a balance between practical asset protection and keeping accounting and other compliance costs down. In a perfect world, yes, a separate trust for each asset is ideal. In the real world, the costs could quickly outweigh benefits.... Have fun Dale

Hi I have not read the book and so I cannot really comment. However, it never ceases to amaze me the number of people who make the HDT concept out as a bad thing simply because they do not understand it and wish to appear knowledgeable..... Dale

Hi I would be curious to know the author & title of that book.....and, whether the author is actually qualified to comment on such issues or is merely voicing their own ignorance and passing it off as fact.... I can give you a copy of a private ruling provided by the tax office to NickM...

Hiya Michael Absolutely right. The one trust can be used for both activities and this provides flexibility and leaves options open down the track if oy decide you need them. Dale

Hiya Michael As the cashflow from your investments in managed funds will be positive then a simple discretionary trust should be sufficient to use. I am a big believer in keeping things as simple as I can. It's the only way that I can cope.... Dale

Hi Dave I have attached below, something that I wrote to answer just this sort of question. I hope it proves helpful. In short though, it really depends upon what you are aiming at and whether you plan to buy a lot more property. There are many people who buy property without using a...