The blind are letting themselves be led by the blind

Years ago a family member attended one of my full-day seminars, DIDN’T sign up as a member, and DIDN’T do the online course. He asked his financial planner and family friend of many years to set up his trust, and guess who then became the independent trustee? The friend – yes, the financial planner friend of many years!

In the meantime, Nephew started a business with a company that belonged to the trust, and the trust bought a farm with some of the money that his business made.
Unfortunately the business didn’t survive the recession, and the creditors are busy cracking down on the trust. Nephew has now called on me for help, but there is nothing that I can do, because I can’t turn back time and do these things correctly. We’re trying to help now, but I’m not holding out much hope.

I’ve said it hundreds of times already and I’m going to say it again now: make use of trust specialists when you set up your trusts. Only a trust specialist should be acting as your independent trustee. Otherwise the trust can easily be seen as an entity that is cheating creditors. In most cases, the financial planner who has become a family friend over the years was the cause of your father’s misery, and now, as sure as fate, he is still being recommended to you by your father.

Ask yourself this question: why am I not controlling the assets of my forefathers today? Let me give you the answer: because your forefathers followed the advice of people like the people whose advice you are now following… the family advisor of many years.

Sorry, old Nephew, but there are none so blind as THOSE WHO WILL NOT SEE!

And the saddest part is that Nephew attended the same seminar as the thousands of Treocians who went on to do things properly, and whose trusts are now unassailable.

Australian Property

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