HDT quick question

[Chilli]

ATM we have a DT, trustee is company A .
If we are to create a new HDT for future investments (shares + IPs) will the new trust :

• need a new company as trustee ? pros/cons?
• and pro/cons if this new company have same/different directors (us) as the existing DT ? (we both have similar income)

ta

 

[DaleGG]

Hi

Yes, it is important to use a different trustee for each trust.
In a perfect world, it would be good to separate the roles into risk roles and safe roles and then have one person only in the risk roles (directors and secretary) for asset protection purposes.

Dale

ATM we have a DT, trustee is company A .
If we are to create a new HDT for future investments (shares + IPs) will the new trust :

• need a new company as trustee ? pros/cons?
• and pro/cons if this new company have same/different directors (us) as the existing DT ? (we both have similar income)

ta

 

[Chilli]

thanks Dale.