Ownership of Units in Unit Trust

[willy1111]

Hi Guys,

I am just looking for a second opinion here - or referral to a solicitor whom could help me out.

I have a business which is operated by a Unit Trust with Corporate Trustee (me and business partner directors) of which half the Units are owned by my family Trust for which I have a different Corporate Trustee (me and wife are directors).

My question is that if something happens to the business - are assets owned by the unit holder (being the Family Trust) under threat???

Thanks in advance for any thoughts.

Cheers

 

[DaleGG]

Hi

No, the family trust is not at risk at all if the business fails or is sued.
The asset (units in the unit trust) might be worthless if the business fails, but, the damage cannot come down into the family trust

Dale