muzzwold replied to the topic PIt – Property Investment Trust – Chan and Naylor in the forum Legal & Accounting 7 years, 10 months ago
Terry
1. You discussed using a unit trust to own an asset. When you setup the unit trust would you use a corporate trustee structure?
2. Can you keep adding assets to the same unit trust throughout the life of the trust?
3. With all the units owned by a discretionary trust, is the increased asset protection due to the implied wider…[Read more]
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muzzwold replied to the topic Using a Trust to Use Equity of PPOR in the forum Legal & Accounting 7 years, 10 months ago
Terry
Trustee of existing trust could borrow against their property as a mortgage.
I will need to get further advice on how the will(s)/testamentary trust could takeover the mortgage upon last parent’s passing. They key to taking it out will be the acceptance of the lender to the exit strategy.
Also contingent on the borrowing capacity and…[Read more]
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muzzwold started the topic Using a Trust to Use Equity of PPOR in the forum Legal & Accounting 7 years, 10 months ago
First post!
Parents have $1million home with no debt.
They also have an investment property worth $300,000 which is inside a family discretionary trust.
They are in their late 80’s so perhaps another several years before they pass on. They are surviving ok on a form of superannuation.
I’m trying to solve a few issues, not sure how to go…[Read more]
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