I understand that I should seek legal advice and I will. I have a general question in which I would just like to know if what I am thinking is possible.
My husband has a past (if you get my drift). I work full time and am in the throws of buying a PPOR property after selling our PPOR in Sydney 10 months ago. I plan to purchase said property solely in my name given the fact that my DH doesn't work.
Anyway, what I am wanting to know is if it is possible to purchase this property and future IP's in my personal name but IF something was to happen to me, all property goes into trust for my son who is currently 5.
DH can be paid an income to support our son and he will have a house to live in etc BUT all assets are protected for my son's benefit and I appoint a separate administrator of the trust?
Would this then protect my assets for my sons future and not allow DH's ex or ex's family to claim full or partial entitlement in the event something happens to me?
I hope I have explained this correctly. I will seek legal advice but am just curious if I would have to purchase through a trust for this type of asset protection.
My husband has a past (if you get my drift). I work full time and am in the throws of buying a PPOR property after selling our PPOR in Sydney 10 months ago. I plan to purchase said property solely in my name given the fact that my DH doesn't work.
Anyway, what I am wanting to know is if it is possible to purchase this property and future IP's in my personal name but IF something was to happen to me, all property goes into trust for my son who is currently 5.
DH can be paid an income to support our son and he will have a house to live in etc BUT all assets are protected for my son's benefit and I appoint a separate administrator of the trust?
Would this then protect my assets for my sons future and not allow DH's ex or ex's family to claim full or partial entitlement in the event something happens to me?
I hope I have explained this correctly. I will seek legal advice but am just curious if I would have to purchase through a trust for this type of asset protection.