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[biggrin] hi All,
As far as i know the property will be in the name of the trust, not on the individuals (trustee or beneficiaries) name. So if a creditor sues the trustee, it will not affect the assets of the trust.
I also have a thought that a Corporation can protect the asset (property). A creditor can sue the Corporation and perhaps can get only on what it’s face value, not on what assets the Corporation owns.
RAMK
Hi All,
It’s pleasant to hear responses from the good people of this forum and i thank heaps from the reply.
For me it’s important to protect my assets from any litigation or creditors if worse comes to worse, hence i think a hybrid trust company or a descritionary trust company is the way to go. Not only it gives protection to my assests to come but also it will reduce my tax liability through earnings distribution to amongst beneficiaries.
But the question is, “where can i find a person who can help me setup the trust?”
Is anyone here have attended one of Ed Burton’s Seminar a couple of years back?
Thanks for any reply,
RAMK
