Hi.
I have set up a family trust with a corporate trustee and a bank account to go with it.
How do I transfer ownership of my cash to the trust.
Obviously I can put it in the account but how do I record the transfer of ownership?

Hi Brian

The money you put in the trust's bank account will have to be recorded as loan from your self to the trust.

In the financial statements / bookkeeping software when you do the books.

It is a loan as the money doesn't belong to the trust. You are giving (loaning) the money to the trust to start whatever activities you intend to carry in the trust.

If you want to use your trust as an investment vehicle then you should transfer the money to the trust bank account first and then buy the asset in the trust's name. You having lent the trust money is not a bad thing at all. It only means if one day the trust has excess money you can take out whatever you had put in (repay yourself).