FAQ 65 Do I need a piggy bank trust?

If you need ‘bomb shelter’ asset protection then you seriously need a Piggy Bank Trust . Please read FAQ 76 – it describes the function of the piggy bank trust.

It is a personal choice as to whether to use one but if chosen then it should be set up BEFORE setting up any
trustee companies. If a piggy bank trust is set up AFTER setting up the trustee companies an amendment will need to be made to each trustee company shareholder details. This is done through the ASIC portal or by requesting help from an accountant.
Details of what is needed to set up  TRUSTEES and TRUSTS can be found in FAQ 55