Doorways to Wealth, Health and Happiness

[emw]

I've read a couple of AP books but this question never gets answered. Can you just give a bunch of money to a trust to fund it? I know that if you sell an asset you'll have CGT to pay on it, but how about xferring simple cash?

AP seems like a great idea, all I need to do now is to collect a few $$ to fund a trust

Thanks,

Ed
_________________
Ed Love Relationship Coach Brisbane, Australia
http://www.solutionsontap.com http://www.lovediet.info

The greatest thing you'll ever learn
is just to love and be loved in return

[Sanjiv]

there are 2 ways, emw - you can GIFT money to a trust, or you can LEND it in. Once you gift it, you can never get it back. A loan to the trust is obviously repayable. The former is great way to asset protect your cash but it does not belong to you any more. happy to engage more if you wish

[emw]

Thanks for the reply! I can see that lending is useful if you want to buy assets in the name of the trust, but why gift money? So the trust can buy assets itself? Is there any advantage to that?

I suppose that as soon as anything becomes part of the trust, it becomes pretty much out of reach to the bad guys.

Thanks again!

Ed
_________________
Ed Love Relationship Coach Brisbane, Australia
http://www.solutionsontap.com http://www.lovediet.info

The greatest thing you'll ever learn
is just to love and be loved in return

[Sanjiv]

PROVIDED THE BAD GUYS DO NOT SUE THE TRUST. REMEMBER, THE TRUST IS A LEGAL ENTITY LIABLE FOR ITS OWN DEBTS. IF ITS GETS SUED, THAT CASH WILL BE UP FOR GRABS - THEREFORE YOU NEED TO ADOPT OTHER PROTECTION LAYERS WITHIN A TRUST...
CHEERS