[Inpycon] Society vs. trust

[Kenneth Gonsalves]

On Sunday 25 Oct 2009 9:44:04 pm Noufal Ibrahim wrote:
> Now I see why people don't like law/lawyers. :)

when I was practising law, I had a friend who would frequently make comments 
like the above - basically he was of the view that all lawyers are sharks and 
are uninterested in justice. Then one day he was caught for not wearing a 
helmet when riding his bike. He came to me to represent him. Actually he 
always used to wear a helmet, but on that day he forgot. Unfortunately for him 
this is a statutory offence and 'forgot' is not a defence. But there was a 
loophole which I could exploit - so I asked him: 'do you want to get off or do 
you want justice?' You can easily guess his reply.

> Is there a document somewhere describing the pros and cons of a trust
> vs. society?
>
> >From what I've gleaned from the conversations here, a society is more
>
> transparent and would work better for our purposes but a trust is
> quicker and simpler. Is there anything else I should be aware of? The
> lawyer himself recommends a trust since it's easier to setup up and
> run.

yes - very easy. What is not easy is unseating the trustees. A trust is used 
when the trustee/trustees control the source of funds - and do not want others 
to have authority over the funds. This is not the case here.

-- 
regards
kg
http://lawgon.livejournal.com