Offset and loan in a trust

Discussion in 'Loans & Mortgage Brokers' started by Jasper, 19th Jul, 2018.

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  1. Jasper

    Jasper Well-Known Member

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    31st May, 2017
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    How does banking work within a trust?

    I’m getting a Bank West loan with offset in a trust name.

    I also have a Macquarie loan with offset in my own name. This offset has $100k in it.

    Is there any benefit in moving the $100k to the trust offset? Can I access this money for my personal use if it’s in a trust? I really don’t understand banking within a trust and how it is/isn’t different to normal banking. Any insights would be great!



    Thanks in advance
     
    Jasper, 19th Jul, 2018
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    A trustee has duty to keep trust assets separate to their personal assets.
     
    Terry_w, 19th Jul, 2018
    #2