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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trusts - My Plan Make Sense? Posted by hard money lender on April 22, 2008 at 6:35 PM In Reply to: Re: Trusts - My Plan Make Sense? posted by Jerry - Ca. on April 22, 2008 at 11:38 AM okay, i now see how you are defining the various types of trusts that you mention. i wont argue with you on the difference between a trust with multiple beneficiaries, and a trustee who is either a bene or is not - simply cuz it is not something that i have studied. certainly from a privacy standpoint, it is better to have someone else as your trustee - but i dont do that. i just set them up in separate trusts with the name of the trust corresponding to the property address, and me as trustee. in the op's example of 3 trusts, i was using a deed that placed the property into ownership of 3 separate trusts, as tenants in common. in that situation, one trust is not responsible for the credit of another. so let me paraphrase what i think you are saying : if the property is placed in 1 trust, with 3 separate trusts as its beneficiaries - if the trustee of this singular trust that owns the property is the beneficiary of any of the 3 trusts, then credit protection is lost. Follow Ups: Correct! (nt) Jerry - Ca. 6:52 PM, 04/22/08 (1) Re: Correct! But???? Mark Hamilton 11:24 AM, 04/26/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : okay, i now see how you are defining the various types of trusts that you mention. : i wont argue with you on the difference between a trust with multiple beneficiaries, and a trustee who is either a bene or is not - simply cuz it is not something that i have studied. : certainly from a privacy standpoint, it is better to have someone else as your trustee - but i dont do that. i just set them up in separate trusts with the name of the trust corresponding to the property address, and me as trustee. : in the op's example of 3 trusts, i was using a deed that placed the property into ownership of 3 separate trusts, as tenants in common. : in that situation, one trust is not responsible for the credit of another. : so let me paraphrase what i think you are saying : : if the property is placed in 1 trust, with 3 separate trusts as its beneficiaries - if the trustee of this singular trust that owns the property is the beneficiary of any of the 3 trusts, then credit protection is lost. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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