Hi all,
Just a quick one here - not sure if it's been covered, but I've done some searching without too much luck.
Does anyone know the position with teachers needing asset protection? My wife is a public school primary teacher in NSW. I've asked her the question on whether she can be sued or whether the school would be sued for something going wrong - such as a child breaking its arm on camp etc... but she's not too sure.
I need asset protection and one option was to go with the discretionary trust with my wife as the trustee, but if she can be sued that one is out the window and I'll have to look at a DT with corporate trustee and see how we can remove both of us from assets.
Any thoughts on this one would be appreciated - I will be seeking further advice, just thought I may get a straight yes/no answer from someone who has been here before me.
Thanks,
BrownDog
Just a quick one here - not sure if it's been covered, but I've done some searching without too much luck.
Does anyone know the position with teachers needing asset protection? My wife is a public school primary teacher in NSW. I've asked her the question on whether she can be sued or whether the school would be sued for something going wrong - such as a child breaking its arm on camp etc... but she's not too sure.
I need asset protection and one option was to go with the discretionary trust with my wife as the trustee, but if she can be sued that one is out the window and I'll have to look at a DT with corporate trustee and see how we can remove both of us from assets.
Any thoughts on this one would be appreciated - I will be seeking further advice, just thought I may get a straight yes/no answer from someone who has been here before me.
Thanks,
BrownDog