Pre-nups

A successful man should not get married these days unless a woman can bring more than him to the relationship.
If he does, prenups are also a must, forget all this sentimental garbage.
Women have ended ~70% of marriages and will be right unless proven wrong when they decide to end it.

Prenups will not be 100% secure though, so provision must be still made before any relationship to protect wealth.

Having a disc trust early on can probably also help, care must be taken as to never mingle it in any way with household income/finances and kept totally independent at all times, forever.
Also the beneficiaries should include kids and grand kids so they can never be looked as "excluded".
Of course this is a job for lawyers who are experienced in such matters.
I find it laughable that people still think courts are unbiased, I doubt they experience in such matters or lawyer friends who deal with family courts.

 

Nup cant deal anymore putting my house in my mums name lol

 

It's called risk minimisation.

 

What if you outlive her?
Then it becomes inheritance to be shared.

 

It was a jk brah

 

Hope she can qualify for the loans. It is a good strategy if she can - and it won't effect her pension.

 

Ill pay the loans just in her name

 

Hopefully mum will leave asses to the trustee of a discretionary testamentary trust which will provide some level of asset protection against spouses.

 

You realise that the family law act allows orders against mum in this case so you have to let her pay.

 

Plenty of ways around it

 

With careful planning there are ways to reduce the risk of a court making orders.

 

Its a jk I would never do this.

 

Why not - it is a strategy worth considering.

 

I don't think your post received the attention that it should have

 

I personally would never do a BFA.

 

What about bare trusts?

I purchased my last property with my mum and because of her employment situation I put it all under my name and will be setting up a bare trust to prove she has a share. Will her share always be safe?

And to build on this, isn't it an easy way to "sell" shares without incurring CGT? E.g. If my brother wanted to buy 20% of my share we just add him to the trust? I could see many ways this could be abused.

 

It would generally be treated as mum's asset.

Did your lender know about arrangement? If not there may be evidentary issues if a family law matter were to arise.

 

Nope we haven't even organized it yet. But I don't think evidence will be an issue since she's depositing exactly her share of the repayments into my account each month. And we maintain a detailed spreadsheet, and I send her a home made statement as well just to give her that warm fuzzy feeling

 

If you havent told the lender then either a trust relationship doesnt exist or you are likely in breach of the mortgage agreement.

 

The banks might not like it but it would be legal right? Problem is she wouldn't haven't qualified for her share of the loan to begin with hence turning to a bare trust as our only option.