Property Trusts

[Dazza]

Could someone be kind enough to give me some background to property trusts etc.

I keep hearing about LAQC etc etc? what is that?

Also i hear Residential Zoning 6A? what does that mean? able to be subdivised ?


Here is a scenario for u guys out there:

my fiance and i, are thinkign of getting our first home within the next 2 years, she has insisted on it being in a trust instead of being in our both names.

Now i have agreed that our future property investments should be in a trust, but our 'family' home should be in our own names.

She like all women.... have prematurely made their minds up..

What are your thoughts?

Any advantages and disadvantages of having your own family home in a trust?

Many thanks

[Jess9]

Dazza, you're best to part with the dosh and talk with a specialist property Accountant - one that is an investor also, preferably. You realy need to discuss structure and tax implications specific to your detailed circumstances, and to allow flexibility for your investment plans going forward. Getting it wrong up front will cost you far more than a grand or two for this advice (tax and general accounting etc) and the structure construction. Also, against the $ involved in a property purchase, or two... paying such an amount for good professional advice is critical.

[limegreen]

I'd second the professional advice as well.
There's an interesting bit here:
http://www.budfin.co.nz/public/about...ts.aspx?id=161
Also, you may be able to get a reasonable idea of what structure is most appropriate (but not necessarily the info) to carry it out, from an initial meeting with an accounting firm. You may be able to get a couple of opinions this way.

[Steve]

quote:Originally posted by limegreen

I'd second the professional advice as well.
There's an interesting bit here:
http://www.budfin.co.nz/public/about...ts.aspx?id=161
Also, you may be able to get a reasonable idea of what structure is most appropriate (but not necessarily the info) to carry it out, from an initial meeting with an accounting firm. You may be able to get a couple of opinions this way.

That's a good summary at the link. It should be bookmarked and brought back next time someone asks about the benefits of LAQC vs Trusts etc...