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1/22/2020 12:12:56 PM
Posted: 11/17/2012 10:00:48 AM EST
I'm looking to buy a new house. I was wondering if there is any advantage to having a trust purchase it over me doing it myself.

Thanks
Link Posted: 11/18/2012 2:30:28 PM EST
there could be in the area of liability protect and asset protection in marriage, but unless it is a cash purchase I dont know how it would work.
Link Posted: 11/18/2012 4:58:39 PM EST
You would need to consult with a lawyer expert in estate planning in your state to determine that, but among the possible disadvantages is that you may exempt yourself from your state's exemption statutes.
Link Posted: 11/20/2012 9:17:16 AM EST
[Last Edit: 11/20/2012 9:59:01 AM EST by brickeyee]
A trust may also affect 'Tenancy by the Entirety' status for a married couple (not used in all states).

Tread carefully, and decide WHAT, WHY, and from what you are trying to protect yourself.

One disadvantage is paying legal fees to operate the trust.

A trust run by an attorney can hide behind attorney client privilege, one that is not run by an attorney does not have as much privacy and in many cases must have public records that identify the owner.
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