I like to get a basic understanding of things before I speak with the financial advisor (that way I understand the terms, lingo etc). I have done some basic reading on trusts. Hoping you can help me
Situation:
- We would like to build a decent portfolio. We already have IP1 negatively geared and in our names. Looking to buy IP2 soon, also negatively geared.
- My husband works for the family business. He is currently an employee but will eventually take over the company (prob within 5-10 years).
- When I last spoke to my financial advisor, he said trusts would be too expensive for what we're currently doing (could be right or wrong).
Questions:
- Would we benefit from setting up a trust structure now?
- If so, what type?
- Does the fact that my husband will own a company, factor into this discussion or is it totally irrelevant?
Thank you very much in advance.
Situation:
- We would like to build a decent portfolio. We already have IP1 negatively geared and in our names. Looking to buy IP2 soon, also negatively geared.
- My husband works for the family business. He is currently an employee but will eventually take over the company (prob within 5-10 years).
- When I last spoke to my financial advisor, he said trusts would be too expensive for what we're currently doing (could be right or wrong).
Questions:
- Would we benefit from setting up a trust structure now?
- If so, what type?
- Does the fact that my husband will own a company, factor into this discussion or is it totally irrelevant?
Thank you very much in advance.