Thank you so much, short and simple explanation vid!
@DavieMach3 ай бұрын
no problemo!
@The10dai2 жыл бұрын
Thank you, thank you once again for this great content.
@DavieMach2 жыл бұрын
Glad you enjoy it!
@cynthiaannecchini1351 Жыл бұрын
Thank you so much, very helpful ! :)
@sitasharma39482 жыл бұрын
Thank you for information
@DavieMach2 жыл бұрын
Any time, Sita!
@dumindudharmapala4672 Жыл бұрын
Very Informative. What happens if all the money is distributed to the beneficeries , how do we pay for the business expenses ( as now now money left in the trust) ? Thanks in advance
@firaselachkar415910 ай бұрын
The distribution happens after the trust has claimed all it's expenses. Eg 400k gross. 150k deductions. 250k left over to be distributed to beneficiaries.
@inderjit1242 ай бұрын
Can you add beneficiaries in trust if more children in future
@DavieMach2 ай бұрын
yes you can, but you can have a clause to have children of primary beneficiary so you dont need to update this in the future
@inderjit1242 ай бұрын
Can you amend a trust deed in the future ?
@DavieMach2 ай бұрын
yes you can
@cocosilkworm6 ай бұрын
Is it similar for Testamentary Trusts (discretionary ones)? Also wondering if there are two Trustees who are also both the only beneficiaries on a Testamentary Trust and they do not agree on something, do they just end up in a stale mate and can't proceed with anything because they can block each other's actions? One Trustee cannot go ahead and make a decision about the whole Trust by themselves without the other Trustee's consent, can they?
@DavieMach6 ай бұрын
These questions are more legal advice so I can’t answer them. Sorry!
@pelhamh Жыл бұрын
Hi Davie! How can I contact you to ask some basic questions, please?
@noname-cp5ho Жыл бұрын
Is there something so called 'love trusts'? I mean a person has an asset and wouldn't want to share by a lover, and the law cannot split the asset to give to the lover but to the beneficiary. The beneficiary elects a trustee whom he/she trusts to take care of the property but the income of the asset goes to beneficiary and not the trustee? How about the trustee wants 1% of the asset to take care of property? Will 1% affect taking ownership of the asset? How about developing corporate trustee? Does the appointor have the right to take money from an asset if he/she wants? Can the appointor be beneficiary itself as well?
@DavieMach Жыл бұрын
Sorry never heard of a love trust before. So I cannot advise you on this
@noname-cp5ho Жыл бұрын
@@DavieMach sorry what I mean a trust like prenuptial agreement or like a get some rent money per month ,but the property cannot be sold or exchange a part into a loan. Are there trusts that keep beneficiary safe from giving property like trust should in part number 2 of your video. I meant a preventing Gold diggers who want to take away your wealth?
@ruffterrain7247 Жыл бұрын
Ive set up a company and a Disc Trust. I have sat down with my bank and set up an account for my trust. How can I confirm that the bank account is actually set up for the trust? It shows up in my internet banking just like any other account. Does that bank account get registered with the relevant governing body?
@DavieMach Жыл бұрын
check the account name is "ABC Trust" or "Trustee ATF for the ABC Trust" The bank account should not be under the trustees name it should be under the trust name.
@ruffterrain7247 Жыл бұрын
@@DavieMach thank you. I've learnt more from your content then from my own accountant.