Trust advice please

[Nicole76]

My husband and I are looking to buy our next property to renovate and sell within a few months of its purchase date. We will live in the property while it is being renovated. I would appreciate any advice as to whether we should set up this property in a trust or not? (We currently have two rental properties and our PPR. The two rentals are positive geared and our current PPR will become a negatively geared rental)
Thanks for your help
Nicole

 

[Terry_w]

That is a very broad question. Kinda like wanting advice on what car to buy!

 

[Nicole76]

Thanks Terry, what other info could I give to make this question less broad?

 

[Terry_w]

Consider eg.
Where will you buy
your family situation
who you want to benefit
your family incomes and types of income
asset protection issues
family law issues
future plans
succession considerations
stamp duty considerations
SMSF considerations
how you feel about your director duties/trustee duties
your record keeping abilitities
centrelink issues for you and broader family
tax considerations
cashflow from the proposed purchase
etc