loan to trust DT - how to get finance

[dee]

back to the lawyer
Agrees finance situation not ideal

Investigating having me as director - obtaining funds from bank with corporate trustee director guarantee. Once the money is in - sack me as director and put mum in as director. All other roles are mum still
Then buy the assets like shares with this money
Apparently if at the time of being director there were no assets in the trust - then asset protection remains in place

Only question is whether I need to inform bank of change of directors - and whther that affects the director guarantee which was me
My lawyer is investigating with ANZ


dee

 

[sailor]

This intrigues me a little.
I was under the impression that a title could not be put in the name of the trust as the trust is in fact merely a paper document. I was informed that the title must be put in the name of the trustee. I have a HDT and could not put the title in the trust's name. Had to be trustee.
JIM

My property title is in the name of ABC Pty Ltd As Trustee For XYZ Trust. Sorry if I've be remiss in giving the correct info...still getting my head around this stuff.

 

[secret squirrel]

sailor. your trust setup is identical to mr carey of richstar. may want to talk to accountant about changing trustee. changing appointer or beneficiary might resettle it so be careful. richstar is bad case they tell me but everyone being careful. maybe time to change for you. u may not have asset protection based on carey case.