In addition to Andrew's awesome info: On Oct 8, 9:24 pm, Andrew Rogers <[email protected]> wrote: > ... To me, trusts are a difficult one for most startups to justify though, > you generally need to set them up at the time you're starting the business, > if you're a startup in IT you're quite often young, without family, and with > varying degrees of confidence that you're startup will ever result in the > million dollar exit.
Keep in mind setting up a trust is purely a personal finance decision not related to your business or the other shareholders (it's none of their business). It's a long long long-term planning tool for you as it'll last 50 or 100 years, much longer than your current business. So if you intend to make significant investments the rest of your life, the set up cost of few thousand dollars (legal fees) and annual operating costs (accounting fees) are negligible. However, how you spend cash today is also bloody important and it's hard to think on that time horizon. Revenue generating trusts can do some almost magical things too, but that's off topic. -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en
