Search results

Nope. From my hazy memory bank: Smith was left a property via the will of a Dr. Problems because the doctor didn't actually own the property. It was owned by a trustee company for a discretionary trust set up by the Dr many years before she died. The Dr was sole director and shareholder of...

Not at all. This was an injunction involving corporations act offenses. Totally different to an individual going bankrupt. Smith v PT was after this case and the richstar argument was brought up unsuccessfully. Having a little knowledge can be a dangerous thing. It is like a non medically...

Discretionary trusts are very good in terms of asset protection, even if there is just 1 person behind them and this person is the only beneficiary to ever receive a distribution. See the 2008 case of Smith v Public Trustee NSWSC for an example.

China, why not take up Paul's 1 hr free consultation offer to see what you can find out. I strongly disagree with your comments about trusts too. 'Good' in what sense?

China, why not spend some money and get a professional opinion on this. There may be something you can do.