New Home Buyers Hot Tips Part 30: Types of Property Ownership:

New Home Buyers Hot Tips:

Part 30: Types of Property Ownership:Family Trusts

Q) Depending on what your are goals are for the property there are other common ownership structures that maybe recommended by the professionals who are helping you. The first one is a trust. A trust is a legal form which can be used for several purposes. The most common one for business owners is to protect the family home if their business goes bankrupt. It would mean their creditors would not be able to touch the assets in the trust. They can also be used to earn income and distribute the earnings to different family members.