Living in home country with a Trust?

[disagree]

Lately I saw many people I talked to in a chat having similar setup:

Let’s say an Australian person with a Australian company (doing ecom)

The company is owned by the trust.

The trust pays the guy.

Now I don’t have great expertise in trusts but I would like to learn more about this tool.

Is it something that can really allow you to live in your home country basically not paying taxes?

Do you need someone you can really trust a lot as the trust is like “owned” by a lawyer and not you?

 

[JohnnyDoe]

Are you ready to really relinquish all kind of control over the company and its assets? If so, with a proper setup, the trust might work.

 

[disagree]

Are you ready to really relinquish all kind of control over the company and its assets? If so, with a proper setup, the trust might work.

Who would you leave the control to? The lawyer setting the trust?

 

[JohnnyDoe]

Who would you leave the control to? The lawyer setting the trust?

You need first to understand what a real trust is.
The trustee must have full, independent control of the trust. You, as the settlor, can only decide who the trustee is when you create the trust.
If you retain any sort of control over the trust or its assets, then the trust will be deemed as a sham, thus invalid ab initio.

 

[disagree]

You need first to understand what a real trust is.
The trustee must have full, independent control of the trust. You, as the settlor, can only decide who the trustee is when you create the trust.
If you retain any sort of control over the trust or its assets, then the trust will be deemed as a sham, thus invalid ab initio.

Can you suggest good sources to study Trusts in a very good way?

 

[JohnnyDoe]

Can you suggest good sources to study Trusts in a very good way?

Your local law school would be the best option.
Seriously, you need to deal with professionals, diy is dangerous.

 

[GPT]

Can you suggest good sources to study Trusts in a very good way?

Plenty of online info to be found about trusts.

If you google on "origin of trusts and trust law in the UK" you will have enough of a start.

https://en.wikipedia.org/wiki/History_of_equity_and_trusts
https://en.wikipedia.org/wiki/English_trust_law
https://www.oxfordlawtrove.com/display/10.1093/he/9780192855008.001.0001/he-9780192855008-chapter-1

To truly understand trust law, dont forget to look Into common law vs civil law.

Enjoy the rabbit hole