Hi all,
Do any of you out there have your PPOR in a buy-and-hold trust (as opposed to a family trust)? If so, are you renting the property from the trust at market rent, and claiming all allowable expenses?
I've searched high and low on this forum, and can't find any info on this. There is plenty on family trusts, and plenty on the danger of renting one's own PPOR from a LAQC.
I want to find a way of protecting our family home - a trust is the obvious way to go. The thing is, we already have a B+H trust with an income-producing asset. What's the harm of popping our PPOR in that trust, rather than starting a new trust? (I can see that creditors could come after the assets of the B+H trust as a whole, so it might be exposing our home to more risk than if it were in its own trust.)
All thoughts/experiences/comments welcome.
Paul.
Do any of you out there have your PPOR in a buy-and-hold trust (as opposed to a family trust)? If so, are you renting the property from the trust at market rent, and claiming all allowable expenses?
I've searched high and low on this forum, and can't find any info on this. There is plenty on family trusts, and plenty on the danger of renting one's own PPOR from a LAQC.
I want to find a way of protecting our family home - a trust is the obvious way to go. The thing is, we already have a B+H trust with an income-producing asset. What's the harm of popping our PPOR in that trust, rather than starting a new trust? (I can see that creditors could come after the assets of the B+H trust as a whole, so it might be exposing our home to more risk than if it were in its own trust.)
All thoughts/experiences/comments welcome.
Paul.
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