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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Correct! But???? Posted by Mark Hamilton on April 26, 2008 at 11:24 AM In Reply to: Correct! (nt) posted by Jerry - Ca. on April 22, 2008 at 6:52 PM But may I assume that IF I create three seperate trusts with me as the trustee, and each trust a tenat in common, the OTHER two trusts provide credit protection for the OTHER two investors. My trust (if I am both trustee and beneficiary), however, would not provide me the same protection. Of course, we might be each other's trustee as well (A to B and B to C and C to A). : : 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 a Followup: Name : E-Mail : Subject : Comments: : But may I assume that IF I create three seperate trusts with me as the trustee, and each trust a tenat in common, the OTHER two trusts provide credit protection for the OTHER two investors. My trust (if I am both trustee and beneficiary), however, would not provide me the same protection. : Of course, we might be each other's trustee as well (A to B and B to C and C to A). : : : 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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