Trusts for an Individual

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Julian
Member
@julian
Join Date: 2003
Post Count: 232
March 3, 2004 - 3:32 pm
I think the asset protction is the most we should concern.
Julain
THERE IS ALWAYS A BETTER WAY!
Still in School
Member
@still-in-school
Join Date: 2003
Post Count: 1,844
March 4, 2004 - 3:36 am
personally, i wouldnt be to worried about the asset protection, if you do have public liability insurance on your investment properties, but more for the flexibilty in small to large amounts of tax benefits and reliefs, you can claim and distribute.
Cheers,
sis
People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million
melbear
Member
@melbear
Join Date: 2003
Post Count: 2,429
March 6, 2004 - 6:39 am
SIS, you come back and say that you don’t care about the asset protection after you have been sued!!
Public Liability should/will only cover you if someone is injured on your property. There are many other reasons soemone could sue you. You could be in a car accident, etc. etc. etc. ad infinitum. If we become more like America, there will be a lot of ‘nuisance’ cases, that will cost you a lot to defend.
If your assets are protected, the other persons solicitor may not be in such a hurry to come after you.
Cheers
Mel
PropertyGuru
Participant
@propertyguru
Join Date: 2003
Post Count: 1,502
March 6, 2004 - 4:04 pm
Julian Asset protection and Tax benefits both.
I am agreeing with Mel and other who uses Trust. Trust gives you flexibility and lot more protection then buying under your name.
Cheers
[]
PropertyGuRu
I want to be billionaire! []