Hello I am sorry if this has been covered before but I am unable to find the answers.
I have a few IPs and will continue to get more. But I am now in a position where I need asset protection. ( I know should have thought about this earlier)
This is my situation.
I would like to buy some IPs for negative gearing and some purely for build and sell. I have two sons and I would like all of these properties eventually to go to them or maybe even use them for low income distribution.
So from what I can figure out. Disc Trust is for the buy and sell and Unit trust is for the negative gearing. How can do I structure this so when the negative geared property starts to become positive I can determine where the income is distributed. Initally I would like the income to come only to me but that may change over time.
Can you have the Disc trust as the beneficiary of the unit trust? But if that is the case then how do you deduct you interest etc or do I have to know if I am going to hold on or sell prior to purchase so I can use the right trust? Although the unit does not give me protection. Where do you pay the stamp duty?
Any suggestions??
I have a few IPs and will continue to get more. But I am now in a position where I need asset protection. ( I know should have thought about this earlier)
This is my situation.
I would like to buy some IPs for negative gearing and some purely for build and sell. I have two sons and I would like all of these properties eventually to go to them or maybe even use them for low income distribution.
So from what I can figure out. Disc Trust is for the buy and sell and Unit trust is for the negative gearing. How can do I structure this so when the negative geared property starts to become positive I can determine where the income is distributed. Initally I would like the income to come only to me but that may change over time.
Can you have the Disc trust as the beneficiary of the unit trust? But if that is the case then how do you deduct you interest etc or do I have to know if I am going to hold on or sell prior to purchase so I can use the right trust? Although the unit does not give me protection. Where do you pay the stamp duty?
Any suggestions??