Many people have tried to make it sound like their particular trust has some sort of "magic" (No slight on the quality publication Trust Magic intended !!)
- Bloodline trust that are meant to safeguard assets - Giving enhanced asset protection etc. They may act to give some capital protection but may also be capable of attack by Family Court too.
- Property Investment Trust (TM)...It was sold as a way to access the NSW land tax threshold. It didnt. It wasnt a fixed trust. The ATO also thought it was a hybrid trust and had other issues.
- A well know deed provider whose NSW fixed unit trust...wasnt.
Walk away from trademarked / 'magic' trust deeds is my view. Like tax schemes they may promise something that isnt deliverable when you need to rely on it.
I would be VERY wary of anyone marketing any specialised "new" form of trust. Its not like after 300 years of trust law (common law) someone woke up and suddenly found something tens of thousands of other lawyers over recent modern history overlooked .. Of course they will say they wont share their secret and its proven. All the halmarks of a scheme. I say if its something that works then we might all recommend it and buy it. So post it for public, professional & legal peer review.
Registering a mortgage is one thing. Proving a debt may be the problem. Otherwise would I just put a mortgage over my own home. Or get a mate to do it.
The originating trust appears to originate with a person who claims on various websites to be many things incl a entrepreneur, wealth creation specialist, a barrister (although I cant determine which Bar and no chambers are noted), a real estate specialist, debt adviser (!!) , speaker....In ASICs words a spruiker perhaps? One qualification not noted was taxation adviser. I cant determine that.
How much does this cost ?