Another trust question

[Sunfish]

If I were to pay the deposit on a unit on behalf of my adult children, a bit of the inheritance early logic, is a simple discretionary trust all I need?

They have disparate incomes, one an invalid pension, the other currently OK, other times just the dole but the unit would be CF -ve. I wish to avoid unnecessary complexity though.

Thanks for your thoughts.

 

[Raddles]

Hi there
if you are proposing to buy a unit - in your name or company name? - as trustee of a discretionary trust - with the intention that your beneficiaries (adult children) can benefit - you can certainly do so. You can certainly distribute different amounts to different beneficiaries once the property is cashflow positive.
Just be aware that there has been some new developments for people who have capacity problems - new trust measures - assuming the invalid pensioner may also have some capacity issues.
If the property is CF-ve - just be aware of the problem with carrying losses in trusts - your Accountant could review those issues with you.
thanks