Forum Replies Created
Terry
1. You discussed using a unit trust to own an asset. When you setup the unit trust would you use a corporate trustee structure?
2. Can you keep adding assets to the same unit trust throughout the life of the trust?
3. With all the units owned by a discretionary trust, is the increased asset protection due to the implied wider number of unidentified people who are beneficiaries, and if so, why wouldnt a normal discretionary trust owning the asset be just as goo as the UT/DT structure?
Muzz
Terry
Trustee of existing trust could borrow against their property as a mortgage.
I will need to get further advice on how the will(s)/testamentary trust could takeover the mortgage upon last parent’s passing. They key to taking it out will be the acceptance of the lender to the exit strategy.
Also contingent on the borrowing capacity and the allowed LVR for such a deal.
Thanks for your input, puts me on the right path to get further advice then present to parents for their approval.
Muzz
