In terms of which name (my name versus trust) to put an Investment Property in, what would be the answer (or just main determining factors) in the the following scenario. Basically was just after the key factors re how things work here, so there I could go off an spreadsheet if need be. So:
PSS. Whilst wanting to avoid asset protection in this scenario, I guess in the Buy and Hold there would be the "passing it on to children" say 30 years down the track. Not sure overall if a trust would help avoid cost, and if yes, whether this would really change anything once discounting back to todays dollars.?
- Property Value: $500k
- Overall plan: Buy and Hold (not sell)
- Retirement Details: Assume need to work for another 10 years, then retire.
- Work/Income: Assume $80k income during 10 years
- Assume no personal $$ put into the sale
- Rental Property overall is (at least in first year) running say at $5k loss per year (prior to tax benefit)
- Just look at financial
- * asset protection
- * land tax
PSS. Whilst wanting to avoid asset protection in this scenario, I guess in the Buy and Hold there would be the "passing it on to children" say 30 years down the track. Not sure overall if a trust would help avoid cost, and if yes, whether this would really change anything once discounting back to todays dollars.?