Discretionary trusts

From: Ian Findlay


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Hi All,

Its been suggested that I consider selling our current home to a =discretionary trust and use the proceeds to purchase another property =rather than selling the property on the open market. Well its slightly =more complex but don't want to give too many details.

Can you kind forum folks outline any pros and cons of this approach =and/or experiences of using trusts. I am aware that there will be some =start up fees involved as well as stamp duty etc.

Thanks again,

Ian

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Hi All,

Its been suggested that I =considerselling our
current hometo a discretionary =trust and
use the proceeds to purchase another property rather than selling the =property
on the open market. Well its slightly more complex but don't want to =give too
many details.

Can you kind forum folks outline any =pros and cons
of this approach and/or experiences of using trusts. I am aware that =there will
be some start up fees involved as well as stamp duty etc.

Thanks again,

Ian

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Reply: 1
From: Paul Zagoridis


Hi Ian

Have you checked the archives?

There are a lot of great discussions on trusts for beginners. You can then post a summary of your understand and ask for updates and new suggestions.

Paul Zag
Dreamspinner
The Oz Film Biz site is archived at...
http://wealthesteem.dyndns.org/
 
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Reply: 2
From: Duncan M


>Its been suggested that I consider selling our current home to
>a =discretionary trust and use the proceeds to purchase
>another property =rather than selling the property on the open market.
>Well its slightly =more complex but don't want to give too many details.

>Can you kind forum folks outline any pros and cons of this approach
>and/or experiences of using trusts. I am aware that there
>will be some =start up fees involved as well as stamp duty etc.


Why bother? If you have value in your own home BORROW against it in order to
fund additional purchases.

Trusts offer a great facility to stream income and for asset protection but
they have the disadvantages of complicating loan applications and
quarantining losses.


Regards,

Duncan.
 
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