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Trust and company setup for home
I am looking to purchase a house in the next 6 months and looking to set it up in a trust. I also have a 50% ownership of a LTC company which has some equity in it I plan on utilising and also want to place these shares into a trust at some point. LTC is all buy and hold properties. Purchasing in the LTC is limited by other factors.
The idea is that I will use the trust to purchase other rentals as well as a house to live in. Also the low potential to buy and flick.
Is this a solid structure long term?
Buy and flick, don't worry about it at the moment and set up a separate entity later to deal with it?
Approximate costs from reading elsewhere on here, $3500 to set up the trust, $350 pa to administer.
If I have additional cash, is it best to loan it to the trust or to gift it to the trust? Primarily thinking about how I can get money out if I want to take a trip or something.
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