Owning shares through a trust structure, page-40

  1. 5,719 Posts.
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    Some wild assertions there walker.
    I am guessing you are not a lawyer or tax agent or someone who has had extensive experience with trusts? Perhaps you got burnt with some bad advice?

    1) 99.9% of trust deeds that I have seen idemnify the trustee from liability, their own legal costs or anyone else's legal costs etc. Any such costs would generally be paid for by the plaintiff or from the trust.
    2) the recipient, assuming you mean beneficiary here, can take the trustee to court but the trustee must be doing something either illegal or not within their powers as trustee but once again the trust deed should idemnify the trustee.

    I strongly suggest people go see a lawyer and an accountant before setting up a trust for any purpose. They are useful in the correct circumstances.
 
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