Hi,
My partner and I currently own 2 properties, one PPOR and the other an investment.
We own both in our own names (jointly).
We are keen to purchase more property whenever we can release equity, which we are now in a position to do again, so we could potentially own many properties in the future.
Most of our future properties would be investments, however at some stage we may move on from our current PPOR to a new one and rent out our current PPOR.
We are considering whether or not we should use a trust as own ownership structure from here on.
At the moment we think it may be over complicating things, too much paperwork, setup and ongoing fees, borrowing complications, and we don't feel as though we are a huge risk of being sued. We run our own business together, however it's not a dangerous occupation in any respect.
The sole reason we would be looking at using a trust would be asset protection, however we are questioning whether we need that asset protection...
We have liability insurance for our business, and landlord insurance for our investment property, and we are wondering if this may be enough.
Any help and also advice on where to get advice on this would be most appreciated.
Thanks
My partner and I currently own 2 properties, one PPOR and the other an investment.
We own both in our own names (jointly).
We are keen to purchase more property whenever we can release equity, which we are now in a position to do again, so we could potentially own many properties in the future.
Most of our future properties would be investments, however at some stage we may move on from our current PPOR to a new one and rent out our current PPOR.
We are considering whether or not we should use a trust as own ownership structure from here on.
At the moment we think it may be over complicating things, too much paperwork, setup and ongoing fees, borrowing complications, and we don't feel as though we are a huge risk of being sued. We run our own business together, however it's not a dangerous occupation in any respect.
The sole reason we would be looking at using a trust would be asset protection, however we are questioning whether we need that asset protection...
We have liability insurance for our business, and landlord insurance for our investment property, and we are wondering if this may be enough.
Any help and also advice on where to get advice on this would be most appreciated.
Thanks