Articles by Anthony Strevens
Ever have a property settlement about to go through and at the last minute your professional trustee has held up the game by asking pesky questions like “Why are you buying this?” or “Is this the right entity to be buying it in?”
What about those times when you’re arranging a simple re-finance and just when everything seems to be sorted your professional trustee wants to know if you’re getting a good deal or if the loans are in the right place or, even worse, if you should be offering up all your property, your future and your first born as security? How annoying!But hang on, did you really want to offer up your first born as security? Or buy a development property in your family trust? Or sign up to a pyramid scheme? By asking these ‘pesky’ questions your professional trustee is simply doing their job, a job which you pay them for. They are looking out for the best interests of the beneficiaries of the trust and by doing so are effectively forcing you to do the same, meaning that you are meeting your obligations as a trustee too. If your professional trustee is not annoying you then they’re not doing their job. If they are not doing their job then they are a sham. If they are a sham, then you need to watch out because your trust may be one too.
Salesh - Was really good to see you yesterday and to see you getting up in front of the crowd talking about your huge successes – and….. I didn’t realise you were so young! You are and always have been such an inspiration to us and think it is great that you got up in front of a group of eager property investors to share about your property journey and to inspire us! You should do it more often. You are so knowledgeable about property investing and so experienced – you should share your success story! - Lisa Swanepoel - December 2017
Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
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