HDT's and asset protection....does it exist

[Terryw]

Here is a link to the case I mentioned, Public Trustee v Smith [2008] NSWSC 397:

http://www.lawlink.nsw.gov.au/scjud...4DE829E369881E6FCA25743B0017D5DA?OpenDocument


And, I should add that even though I think discretionary trusts are pretty safe as is it would be better if the appointor, trustee (or directors/shareholders of trustee) and main beneficiary were not the same person. (but this could create other problems such as banks wanting guarantees etc).

 

[on the move]

Where is the Melbourne accountant who charged me almost 3 grand to set up the hdt, I want my money back !
We should avoid all these complicated funny duddy trust arrangements like any investment if don't understand don't go near it. Gee aren't we property investors gullible !

 

[Terryw]

Did the accountant explain that you could do things with your trust which you now know you cannot?