Why have a family trust? I'm only interested in a Private trust.When they're setup properly no taxes and legal liabilities. All the others Trusts aren't worth having.
You seem to be far too behind regarding Trusts. Private Trusts are the best and can be setup anyway you want it to be. Solicitors are useless setting them up. They only deal within what they are taught.
Inflation and Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
You need a Financial Advisor my friend so you don't get ripped off in the market. They provide personalized advice to individuals based on their risk appetite, placing them among the best of the best. There are bad ones, but some with good track records can be very good.
I know I've wanted to start investing for a few months, but just haven't had the courage to start because the market has been down for most of this year. Please how can I reckon with such skills and what are his services like?
@@davidcrosthwaite little mindset we always disagree to great opportunity this investment knowledge is not for you so get lost and stop talking nonsense on my stuff before i report you
you can change the speed of the vid, activate subtitles, replay vid as needed... oh and of course... like and subscribe (if you didnt get that the fourth time lol)
Hi Kent. thanks heaps for explaining ! I have been looking for a similar summary for a while. Can I please request you to use graphics or charts when explaining complex topics such as trusts !
My advisor is ROCH DUNGCA-SCHREIBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
My advisor is ROCH DUNGCA-SCHREIBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Great video yet again mate! Hmm Suggestion Probably make different videos explain each trust in greater details. This would probably help boost rating.
Yeah, I felt I did gloss over some areas when watching back the video. I'll plan a more detailed video on discretionary (family) trust and unit trusts as these are the most common.
I own an investment property and I'm looking at buying a second, can I transfer the first house from my name to the trusts, or will I need to pay stamp duty and CGT?
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ROCH DUNGCA-SCHREIBER , a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy.
i have a question.. and possibly a video opportunity also. how can a trust protect regarding a lottery win? ie, can i have the trustee hold my winnings and pay me a nominated wage weekly, monthly, etc?
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ROCH DUNGCA-SCHREIBER , a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy.
Hey Kent, thank you for the video. I've been reading some case-law where judges have ruled and allowed assets within the family trust to be accessed, despite the legal case being against the individual personally - have you come across cases like this too? If so, what are some strategies to mitigate this?
I'm no lawyer (speak to a lawyer) these may be considered a sham trust. For a trust to be genuine, it's important that the trustee is different to the appointer and named beneficiaries. If this is important to you, seek legal advice.
Great information Ken. Thinking if creating a trust fund at the ripe old age of 65 can help protect assets (houses)in my name as well as reduce things like land tax and exposure to any legal liability that might come along the future. Is it never to late without raising a red flag to anybody?
My advisor is ROCH DUNGCA-SCHREIBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Great question, I should have answered in the video. Assume a trust costs $2k per annum to maintain (including that amortised cost of setup) you'd also want to make 2x this for effort, so you need to be saving $4k a year in tax, the marginal tax rate is say 28c in the dollar, so to save this amount the pre-tax income of the trust needs to be $4k/28% = $14k p.a. So assuming you generate a 6% return each year, means you'll need total assets in the trust of $230k. Speak to your accountant about the exact number for break even on your situation, but it would be around $200k-$250k of investable assets, generating 6% income, outside of super.
TL;DR: confirm with you accountant, but likely when you get your investments to $200kis when you're a PAYG employee or if you operate a small business turning over more than say $50kp.a.
I am really struggling to understand this mate.. did you say that having a trust will give you an opportunity to avoid tax? At any point of this process will you need to pay tax?
Of course. When you have money come out of it to you. You will pay income tax but the REAL TRICK is having kids and THEY get some income BELOW the 18,600 dollar taxable threshold or maybe it's like 12 000 bucks (they get income that is too low to be taxed by income tax). My sister has 3 kids and has/had a family trust that their company was in and run it like this.
Thanks for sharing Kent, is it possible to contact you to have a conversation about investment strategy and tax structure in my circumstances? What's the best way to get in touch with you and make an appointment? I trust your advice even though you are not an accountant or financial planner.
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ROCH DUNGCA-SCHREIBER , a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy.
Have more questions about trusts? Contact me here: www.kentcliffe.com.au
Why have a family trust? I'm only interested in a Private trust.When they're setup properly no taxes and legal liabilities. All the others Trusts aren't worth having.
You seem to be far too behind regarding Trusts. Private Trusts are the best and can be setup anyway you want it to be. Solicitors are useless setting them up. They only deal within what they are taught.
Inflation and Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
You need a Financial Advisor my friend so you don't get ripped off in the market. They provide personalized advice to individuals based on their risk appetite, placing them among the best of the best. There are bad ones, but some with good track records can be very good.
I know I've wanted to start investing for a few months, but just haven't had the courage to start because the market has been down for most of this year. Please how can I reckon with such skills and what are his services like?
SCAM 🛑🛑🛑
@@davidcrosthwaite little mindset we always disagree to great opportunity this investment knowledge is not for you so get lost and stop talking nonsense on my stuff before i report you
Wow! That was so fast I missed it. Any chance you can use a whiteboard for a visual understanding please !!
you can change the speed of the vid, activate subtitles, replay vid as needed... oh and of course... like and subscribe (if you didnt get that the fourth time lol)
Hi Kent, thanks for closing the blinds at 0:10. Legit, it helped me focus on the gems of information you explained so well. Thank you.
Hi Kent. thanks heaps for explaining ! I have been looking for a similar summary for a while.
Can I please request you to use graphics or charts when explaining complex topics such as trusts !
My advisor is ROCH DUNGCA-SCHREIBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I *AM* a provisional accountant and I must say the way you presented your disclaimer was spot on, bravo.
My advisor is ROCH DUNGCA-SCHREIBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
banging on about subscribing is more of a deterrent, let the content speak for itself and reap the rewards.
Key word “Effectively” great video
Thanks Kent for your great work! I love your channel because by hitting the subscribe button, I learnt everything you taught!😎👍🙏
Very well made video Kent!
Thanks mate, we've got to do a video together 👍
@@KentCliffe For sure, let's do it!
New drinking game - every time he says trust take a shot
Great video yet again mate! Hmm Suggestion Probably make different videos explain each trust in greater details. This would probably help boost rating.
Yeah, I felt I did gloss over some areas when watching back the video. I'll plan a more detailed video on discretionary (family) trust and unit trusts as these are the most common.
@@KentCliffe how did you go???
hi i subbed. at 10:20 when you say "it comes back to me" do you mean the trustee or the beneficiary?
I recently spoke to a friend who thinks that he doesn't need to pay tax using a unregistered, discretionary trust; is this possible.
I own an investment property and I'm looking at buying a second, can I transfer the first house from my name to the trusts, or will I need to pay stamp duty and CGT?
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ROCH DUNGCA-SCHREIBER , a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy.
i have a silly question for you but here goes: can the trustee, the beneficiary and the appointee all be the same person?
i have a question.. and possibly a video opportunity also.
how can a trust protect regarding a lottery win? ie, can i have the trustee hold my winnings and pay me a nominated wage weekly, monthly, etc?
Sure, I'll have a think and create some content...
So you put the funds in the trust to reduce your taxable income, but how do you get the funds back without increasing your taxable income?
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ROCH DUNGCA-SCHREIBER , a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy.
This was really helpful, thank you!!
Hey Kent, thank you for the video. I've been reading some case-law where judges have ruled and allowed assets within the family trust to be accessed, despite the legal case being against the individual personally - have you come across cases like this too? If so, what are some strategies to mitigate this?
I'm no lawyer (speak to a lawyer) these may be considered a sham trust. For a trust to be genuine, it's important that the trustee is different to the appointer and named beneficiaries. If this is important to you, seek legal advice.
@@KentCliffe Lovely, thank you
Great information Ken. Thinking if creating a trust fund at the ripe old age of 65 can help protect assets (houses)in my name as well as reduce things like land tax and exposure to any legal liability that might come along the future. Is it never to late without raising a red flag to anybody?
My advisor is ROCH DUNGCA-SCHREIBER , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Is it worth even setting up a trust if you're not wealthy? I'm talking about you're earning below six figures.
Great question, I should have answered in the video. Assume a trust costs $2k per annum to maintain (including that amortised cost of setup) you'd also want to make 2x this for effort, so you need to be saving $4k a year in tax, the marginal tax rate is say 28c in the dollar, so to save this amount the pre-tax income of the trust needs to be $4k/28% = $14k p.a. So assuming you generate a 6% return each year, means you'll need total assets in the trust of $230k. Speak to your accountant about the exact number for break even on your situation, but it would be around $200k-$250k of investable assets, generating 6% income, outside of super.
TL;DR: confirm with you accountant, but likely when you get your investments to $200kis when you're a PAYG employee or if you operate a small business turning over more than say $50kp.a.
@@KentCliffe thanks a lot Kent, appreciate the thorough response :)
I am really struggling to understand this mate.. did you say that having a trust will give you an opportunity to avoid tax? At any point of this process will you need to pay tax?
Of course. When you have money come out of it to you. You will pay income tax but the REAL TRICK is having kids and THEY get some income BELOW the 18,600 dollar taxable threshold or maybe it's like 12 000 bucks (they get income that is too low to be taxed by income tax). My sister has 3 kids and has/had a family trust that their company was in and run it like this.
@@OffGridInvestor Cheers mate!
So me as a single individual with some assets, is it worth it to get a trust
No. You need someone else with a lower tax bracket to benefit from a discretionary trust.
Have you only got one jumper bro ?
thanks!
Kia ora, looking for someone to create a DISCRETIONARY TRUST unencumbered please. I am in New ZEaland.
Thanks for sharing Kent, is it possible to contact you to have a conversation about investment strategy and tax structure in my circumstances? What's the best way to get in touch with you and make an appointment? I trust your advice even though you are not an accountant or financial planner.
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ROCH DUNGCA-SCHREIBER , a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy.
He says effectively LOTS
No visual examples...asked us to subscribe 3 times...not sure if that's cool. Otherwise good info.
Thanks for all the info but you get a thumbs down for all the subscription begging.
🕊✌😇👍🕊
Almost unsubscribed after that push