I am being told by one accountant that I should purchase properties in a hybrid trust and by another accountant that I shouldn’t. There seems to be a lot of support for the hybrid trust however I assume there must be reasons for using them. I would appreciate it if anyone could give me some definitive information on the reasons for using or not using a hybrid trust and if it is the way to go then what would be the best way of setting it up
Hello Geoffrey
Pending an answer from the forums resident trust guru here is a link to a thread where Terryw gives a clear and simple explination of Hybrid trusts.
https://www.propertyinvesting.com/forum/topic/23422.html?SearchTerms=hybrid,discretionary,trust
As trusts can not distribute losses, the HDT is a way to solve that problem.
Hope this helps [smiling]
Elka
It is not the only way to get the loss in your personal name though.
CATA
Asset Protection Specialist
[email protected]Originally posted by elkam:Hello Geoffrey
Pending an answer from the forums resident trust guru here is a link to a thread where Terryw gives a clear and simple explination of Hybrid trusts.
https://www.propertyinvesting.com/forum/topic/23422.html?SearchTerms=hybrid,discretionary,trust
As trusts can not distribute losses, the HDT is a way to solve that problem.
Hope this helps [smiling]
Elka
It will depend on what investing stratagie and personal circumstances which type of trust to, use if at all. My preference if discretionary trusts because mose accountants know how they work. With a hybrid trust, yo will need a good team including accountant, lawyer, mortgage broker (you know all the property related stuff) that understands the structureas mistakes are common and then can render the trust useless.
If you want a chat about your personal situation, drop me an e-mail and Ican giveyou a few options.
CATA
Asset Protection Specialist
[email protected]
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