Asset protection - buying in a Trust

Discussion in 'Legal Issues' started by Orion, 6th May, 2018.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    I have a surefire way to get punted from my office. Walk in and ask about how to avoid paying child support. I have never, ever, been asked that question by a mother. The other question asked by males - Can I setup a trust so I dont have to give wife a share of assets? Never had that comment from a woman. I refer them to a solicitor.

    Statistically I wonder what the incidence of DV, abuse etc from women to men.

    I dont believe the Family Court record of decisions favours mums because they are women. Its because of behaviours. The court must decide which of the two stories is the more reliable truth.
     
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I often get asked to set up trusts in such a way that if the current spouse remarries or has children that spouse and children are excluded as beneficiaries from the trust. So far I have never been asked for this from a bloke.
     
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  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The problem is always that of appointor and amendment. A guardian that may need to approve future changes independednt of trustee and appointor to the trust can help but has limited powers. One of the best I have seen is in the MGS deed which has special provisions for a guardian that can suppress some trust changes.

    However courts could yet find in a different way