Looking for an experienced Family Trust Lawyer in Melbourne

Hello All,
First of all Happy New Year. Hope everyone is having / had a great break!!

I am currently looking for a good Family Trust Lawyer / Accountant in Melbourne to setup the "right" structure for me.

Current Situation:

• Sole earner in the family of 4. Wife is a home maker and kids are 8 and 5 years old.
• Current investments are;
  • Got 2 properties (1 PPOR, 1 IP)
  • Have around 50K in shares
  • Have a cryptocurrency portfolio of 100K

What I am looking for:

• Use gains from cryptocurrency portfolio to buy properties and get another income stream. Possibly retire one day
• Stating the obvious, but pay least tax as possible
• Set money aside for kids education
• Protect my assets

Please reply if you are, or you know someone, in Melbourne who can help me achieving these goals by setting up the right Family Trust / Corporate structure.

Regards,

 

Try Allan Swan or Nathan Yii

 

Thanks Terry.
Allan Swan: Allan Swan, Estate Planning Equation, Asset & Wealth Management Lawyers Queens St Melbourne
Nathan Yii: Nathan Yii Lawyers | Home

 

From your goals you might want to start with a good financial planner, they can then work with other providers to put the 'right' structure in place. I would have a chat with Cody from Hard Line Wealth - Melbourne | Sydney | Coolangatta.

 

Thanks Simon. I have made a note of that.

 

You will need a firm who works with a lawyer in the meeting or has one on board. If any acounting firm is providing legal advice run as it means they operate illegally. Accounting firms cannot provide legal advice on structures.

They can however set them up on the instructions from clients or another lawyer.

 

My understanding is that it cost at least 5000 to set up the structure and the same amount annually to run, so you may want to consider if it is worthwhile for you to do this.

 

Are you making this up!

I charge $1100 for a trust. Running costs could be $0 upwards depending on a few things such as what the trust owns.

 

No I'm not Terry, I actually consulted one of the mid-tier accounting firms in Melbourne and this is what they quoted for me for a discretionary trust. But I'm glad you charge significantly less, so if I do need one set up I know where to go... Provided your waiting list is not too long.

 

I have heard of firms charging anything from $500 to $15,000 for trust set ups.

its just getting longer!

 

Pinocchio? The number of zeros on the establishment fee? Or the queue out your door?