In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Investment vehicle ie family trust, unit trust. Changes the way taxes are paid. Lenders can accept loan applications when the Trust is the borrower. The term trust fund refers to an estate planning tool that establishes a legal entity to hold property or assets for a person or organisation.
It can be costly to establish and operate, with higher ongoing compliance and accounting costs. The trustee is required to perform formal yearly administrative tasks. A trust is not a distinct legal entity. The trustee is legally responsible for the trust's operation and is legally liable for the trust's debts. However, in most cases, the trustee is a corporation (a corporate trustee), which can reduce liability. If the trust's annual revenue exceeds $75,000, it must register for goods and services tax.
Some disadvantages include; Loss of ownership of assets, Additional administration, Cost of formation of the trust and the transfer of assets, possible future law changes.Learn More
It's actually pretty straightforward to put a residence into a trust, and your living trust attorney or financial advisor may assist you. Because your home has a title, you'll need to amend it to reflect that the trust now owns the property.Learn More