Eleven
The only other question is how many properties do you want and how much to put in each trust? Remember that if something goes wrong in the trust, everything in that trust is at risk.
Make sure that you can change beneficiaries if you need to.
Happy hunting[cap]CATA
Asset Protection Specialist
[email protected]Eleven,
Originally posted by Eleven:the asset is 100% protected
Small quibble: an asset is never 100% protected – especially not if you’re married!
And in that scenario it’s only protected against you being sued. It could still be taken if the trust itself (ie. the trustee) is sued.
Cata:
Make sure that you can change beneficiaries if you need to.Beneficiaries? Or do you mean trustees?
GP
Dear CATA and GP,
Thanks very much for your e-mails. I think is good to discuss these issues in the forum as I am pretty sure more than one will pick up some knowledge as I am doing.Cata re your question I guess the idea would be to create a balanced portfolio of properties in the Trustee and do some sort of cross guarantee to minimise the risk. To be honest I have not investigate that issue as I am doing my first steps on this business.
GP your comment make me think and laugh at the same time!! I guess the best way to minimize the risk is to do a pre-nuptial agreement before the wedding! ha.
Suppose the HDT and the Trustee are ready to go. How would be the best strategy to negotiate with the finance companies, as they most likely will look some sort of security on the loan?
From your experience is it likely to loan the money to the HDT or they will prefer to do it to me directly? I have so many questions!!
If anyone could give me some lights on this would be great as I have a meeting with the Mortgage Broker this Thursday.
Best regards,
[rambo2]Eleven
Originally posted by GreatPig:Quote:
Beneficiaries? Or do you mean trustees?Both actually
CATA
Asset Protection Specialist
[email protected]
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