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Trusts with only a family home 15 Aug 2017

If you have a family trust, which only owns your home, you should remember, if you have been paying off the mortgage principal, the trust owes you the money you have paid on its behalf. If you overlook this, you may be defeating the main purpose of the trust, which is to protect your wealth. In the event you can’t pay your debts, your creditors can call on the debt owing to you by the trust and make the trust pay. Your solution is to periodically forgive the debt. 

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