Trustee for several trusts?

[rodimus]

Can a trustee for my Discretionary Trust be the same company that is a trustee for a Unit Trust that is doing a development?

It is just 1 development project, the Builder is not us. The Unit Trust just buys a land and asks the Builder to build on it.

How is that for Risk management point of view?

I wouldn't want to use my personal name as trustee for the Unit Trust.

 

[rodimus]

What possible risks can there be for a company doing development? ( getting an outside Builder to build, not as a developer/builder)

??????

 

[Patosan]

Till someone far more qualified steps in I'll respond.

I believe that a Co. can be trustee for as many trusts as you like and of any type. Just as you as an individual can. It would normally be discouraged though for risk reduction.
e.g. safest case would be different Co with different directors.

As far as developing goes I don't have experience from getting my hands dirty in this area, though from everything I've read here on the forum there are plenty of risks for the newbie. Not that they can't be somewhat allowed for and appropriate advice sought, but there's no way most in the business would recomend having an existing Co. trustee being exposed to such risk.

Do a search here and you should get mountains of info on developing.
Best of luck