Should my wife & I set up a trust? Who to consult + pros/cons?

[BizShawRiqueMolo]

Hello, we are exploring the possibility of establishing a trust account. Who would be the appropriate professional to consult?
What are the potential advantages and disadvantages of having a trust account, and what guidance might you offer?

Thank you.

 

[truthgwammy12dweiss]

Yeah, I think you might be going about it the wrong way.

You’re better off figuring out the pros and cons first, then deciding if it’s something you want to do.

 

[EchoFlux88]

I’d be chatting with an accountant and a solicitor, you know.

I’d also start by really getting a handle on what a trust is, what it’s all about, and how you can actually use one. And hey, that might totally shift your thinking like, what you thought a trust was for, or how you’d want to use it compared to what it costs.

 

[backpackdmbstept]

Speak to a good accountant, if you need a recommendation let me know

 

[SilverSailor90]

FI & wealth is worth looking at, it might be helpful.