Hi Guys,
I've done a search & read most of Terrys trust thread, but I can't seem to find the answer to the question of converting PPOR to trust post divorce?
Unfortunately it looks like my wife & I will be parting ways in the near future. One scenario is that I pay her for her portion of our PPOR once the value of this has been legally agreed. I may then stay there , or turn it into an IP.
My concern is that with the 'new' PPOR in my name it can become ?up for grabs? if in the future I enter into another long term relationship.
So, my question is, how hard/expensive is it to convert a PPOR into a Trust at the time when the title changes from joint names to my name?
My main goal is asset protection in case history repeats with any future relationship.
Thanks
Mark
I've done a search & read most of Terrys trust thread, but I can't seem to find the answer to the question of converting PPOR to trust post divorce?
Unfortunately it looks like my wife & I will be parting ways in the near future. One scenario is that I pay her for her portion of our PPOR once the value of this has been legally agreed. I may then stay there , or turn it into an IP.
My concern is that with the 'new' PPOR in my name it can become ?up for grabs? if in the future I enter into another long term relationship.
So, my question is, how hard/expensive is it to convert a PPOR into a Trust at the time when the title changes from joint names to my name?
My main goal is asset protection in case history repeats with any future relationship.
Thanks
Mark