Thrifty-Net Trust Set ups

Guess this maybe more aimed at Nigel but anyones welcome to respond.

Just wondering if anyone has heard of Thrifty-Net? Or if anyone has used one of their trust deeds/corp trustee set ups?

Link

They provide deeds and companies basically automatically and courier the documents overnight. Seems a fairly good system and im mainly looking at it for a unit trust, however dont want to end up with one of those deeds which limits you in the future.

They also do HDT's however i would only trust a MGS deed at this stage IMO.

Cheers

 

fwiw I haven't heard of them or used them.

Had a quick look at some of the example documents which are viewable. Language and layout looked a bit dated...but that's on only a quick skim.

Unfortunately the devil's in the detail. I think I posted previously a short list of things to look for in a trust deed. I'll see if I can dig it up or if not will re-post.

Cheers
N

 

Here is a list from another thread...

borrow & raise money (they're not the same thing)
grant security
guarantee and indemnify
Trustee has right to be indemnified out of the trust fund
operate a bank a/c
carry on business
lease goods/property
appoint an attorney (I've heard some trust deeds from a prominent provider didn't address this but now fixed as I understand)
trustee can act despite conflict of interest
enter into derivative products/option facilities

Would their be any thing else i should check. Im having a chat to the accountant tonight but looking to come with a list of questions to quiz him on.

If im not happy, i might be off to NickM's