Hi, there
Would forming a trust for my properties protect me from a de facto seeking to unfairly claim part of my property assets? I have an investment property, a property I am about to purchase as place of residence and I will be selling my current property to offset the new mortgage.
ThanksHi Carol Anne,
A new trust is unlikely to protect your current assets from any legal action, but probably a smart idea for any future investments. This is not to be taken as legal advice but my limited opinion. You should really get a legal opinion for some certainty.
regards
Ross
The family court has unravelled discretionary trust assets in the past, but having one is still a good idea. Just keep quiet about the property owned via the trust. If they don't know about it, they cannot attack it.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hello Carol
Just coincidentally I was reading an old copy of API and came across an article about Binding Financial Agreements. Apparently this is something new from 2000 and unlike a pre- nuptial agreement bids more certainty. It's possible to make such an agreement even after you are in a relationship. Maybe you should speak to a lawyer specialising in family law about it.
The thing that the article does state is that one of the limited number of circumstances when the family court will not enforce such an agreement is non full disclosure.
Hope this helps
Elka
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