My husband and I am thinking to put our flat under a trust. Who should we contact? If the flat under a trust, can we sell it later? Can we live there if we want to? The flat has a mortgage and we plan to rent it out since we are moving to abroad.
2006-11-02 02:22:35 · 1 answers · asked by aoilondon 1 in Business & Finance ➔ Renting & Real Estate
A Trust is very important if you have Heirs and you wish to leave them your estate. What it does very simply, when you pass on, is protect you and the beneficiary from Probate and certain taxes and penalties provided in the law. It does not prevent you from doing any of those things you wish but a lawyer is required and you will be charged a fee for his/her time. A very good idea and I recommend you do it right away and ask your attorney about the other options like bank accounts, cars and any other property you wish to have protected by a Trust.
2006-11-02 02:30:11 · answer #1 · answered by Rocko Barbella 4 · 0⤊ 0⤋