Two nights ago I was at our monthly Richmastery mentoring meeting and a line in our notes stated that if you have your family trust as beneficiary of your trading trust then you will taint the portfolio of your family trust.
My understanding was that there was no tainting between trusts and that was what my accountant said and set up the structures accordingly. He also set up the LAQC as a beneficiary if needed. Would there be tainting of the LAQC if it is beneficiary or if I distribute profits from the trading trust to the LAQC?
Therefore -Who should/shouldn't be the beneficiaries of a trading trust and why/why not?
My understanding was that there was no tainting between trusts and that was what my accountant said and set up the structures accordingly. He also set up the LAQC as a beneficiary if needed. Would there be tainting of the LAQC if it is beneficiary or if I distribute profits from the trading trust to the LAQC?
Therefore -Who should/shouldn't be the beneficiaries of a trading trust and why/why not?
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