We setup a HDT recently with a Corp. Trustee. My wife, myself and son as primary beneficiaries.
Our neighbour acted as Settlor. He gave my wife $10 cash as the settled sum. She then electronically transferred $10 from her bank account into the Trust Account.
There is no record that she deposited the $10 to her own bank account before the electronic transfer to the Trust account - so no hard trail of the cash.
Our accountant advised in a letter once the Trust was setup that we should proceed to deposit the settled sum into the Trust account, but in my inexperience I was not aware of the significance of the legal trail.
Does the above make our Trust invalid - we already have two houses in there making disolving very painful if we have to create a new one....
Appreciate your views................anything beginning with "you don't have a problem" will be most welcome.
