Can you recommend book/articles for understanding trusts ?

[PropertInvestor]

As title says,
How to get started whether trusts is for me or not. If yes, which one etc..

Can you recommend book/articles for understanding trusts ?

And what is the general practice people use IP in personal name or trusts ?

 

[Jonathon]

As title says,
How to get started whether trusts is for me or not. If yes, which one etc..

Can you recommend book/articles for understanding trusts ?

And what is the general practice people use IP in personal name or trusts ?

"Trust Magic" bu Dale Gatherum-Goss is an excellent book, and very easy to read.

 

[Steve Basin]

As title says,
How to get started whether trusts is for me or not. If yes, which one etc..

Can you recommend book/articles for understanding trusts ?

And what is the general practice people use IP in personal name or trusts ?

One of the best books ever published on Trusts and what got me started was, none other

"Trust Magic" by Dale Gatherum Goss

He was an Australian Guru in this subject, before he retired in 1997

Check out this site, where you can purchase the book and read more about Dale Gatherum Goss.

http://www.trustmagic.com.au/index.php?act=viewDoc&docId=10

Good Luck

 

[PropertInvestor]

Thanks Jonathon.

Thanks Steve and welcome to forum.

 

[Terryw]

Trust Magic is very easy to understand and written for the basic reader.

Another more advanced, and expensive, books are

Trust Structure Guide 2009 （not sure if updated this year)
Drafting Trusts and Will Trusts in Australia

 

[PropertInvestor]

Trust Magic is very easy to understand and written for the basic reader.

Another more advanced, and expensive, books are

Trust Structure Guide 2009 （not sure if updated this year)
Drafting Trusts and Will Trusts in Australia

Thanks Terry. Happy to see your reply.

It looks it is updated http://www.taxinstitute.com.au/publications/new-trust-structures-guide-2010. But as you said, it is expensive.

 

[Terryw]

Its only $295! The other is about $170

 

[bene313]

The trust structure guide is fairly advanced.

You might like to check out Nick Renton's book on family trusts. He also has books on property, the stock market, superannuation and many other topics of interest to investors -

http://nickrenton.com/

Don't be fooled by the amature website (which he does himself)

 

[Hashkent]

This topic has peaked my interest as I'm currently going though the motions myself of looking at purchasing an investment property...

Why would you use a trust to purchase property? Is that purely so you can define distributions when disposing of property for tax purposes? Would you really come out ahead when you factor in its additional costs of having a trust while holding property for 3-5 years?

Does a trust give you any extra benefits aside from asset protection and the ability to define taxable income distributions? Does it make getting finance harder or easier since your getting finance in the trust name rather than as an individual? Do you use a corporate trustee in most cases for property purchases? Is stamp duty or finance fees more expensive when using a trust vs individual?

 

[Evachange]

Does it make getting finance harder or easier since your getting finance in the trust name rather than as an individual?

On the finance topic, it depends on the lender, some like them and others don't.