Hi guys
I have recently read a little about family trusts. how they are used as asset protection and how you can borrow more because you are guarantor for the loans for the trust so you can borrow more
this sounds great, and is an avenue id like to pursue
however, i am building a house and the mortgage is in my name, eventually this house will be an IP but for a year or so will be my PPOR
so i wont be able to guarantor much because of my high personal debt
can i transfer my PPOR into a trusts name?
also, how do i go about setting up a family trust? speak to my accountant i imagine? anyone know what costs are involved?
i have just recently read about trusts so if any aspects iv said are wrong please correct me
thanks
I have recently read a little about family trusts. how they are used as asset protection and how you can borrow more because you are guarantor for the loans for the trust so you can borrow more
this sounds great, and is an avenue id like to pursue
however, i am building a house and the mortgage is in my name, eventually this house will be an IP but for a year or so will be my PPOR
so i wont be able to guarantor much because of my high personal debt
can i transfer my PPOR into a trusts name?
also, how do i go about setting up a family trust? speak to my accountant i imagine? anyone know what costs are involved?
i have just recently read about trusts so if any aspects iv said are wrong please correct me
thanks