All Topics / Legal & Accounting / Trust & Corporate trustee… Can you set it up yourself????
Does this have anything to do with the insurers who cover each banks loans. ie. GE might cover a % of the total amount of lenders in the market. As a result of using banks using the same insurer they may deem you more of a liabilty. I may be wrong but,this is something a broker inicated when considering neww finance. One of the brokers on here could probably explore its relevance if there is any.
Would you set up a discretionary trust for trading shares and also have your property in that Trust? Or would you set up a stand alone trust for purely trading and investing for shares only?
What do others think or have done?
I have a discretionary family trust for trading shares and I also put my buy and holds in the trust. My reasoning for this is that my buy and holds are largely negatively geared and I can offset any (theoretical) earnings from sharetrading against the negative gearing of the properties.
In reality, I haven't made any money sharetrading so it hasn't worked. But any "income earning" ventures will be in my discretionary trust to offset the on paper losses of the properties.
Cheers
K
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