Hi All,
I've recently gone through the process of setting up a family discretionary trust. I've got a vague memory of hearing people quote figures of a couple of thousand dollars to set up their trust, and I just read "Trust Magic" that one of the disadvantages of using a trust is the $2000-$2500 it costs to establish.
I feel like something must have gone wrong as all I've paid is about $200 to get the trust deeds drawn up. I have yet to receive a bill from my accountant for her role in helping me set it up, but I'm pretty sure she isn't going to charge me $2000 for a few hours work. So what am I missing?
John.
I've recently gone through the process of setting up a family discretionary trust. I've got a vague memory of hearing people quote figures of a couple of thousand dollars to set up their trust, and I just read "Trust Magic" that one of the disadvantages of using a trust is the $2000-$2500 it costs to establish.
I feel like something must have gone wrong as all I've paid is about $200 to get the trust deeds drawn up. I have yet to receive a bill from my accountant for her role in helping me set it up, but I'm pretty sure she isn't going to charge me $2000 for a few hours work. So what am I missing?
John.