Posted on: 02nd Oct, 2010 07:17 pm
If my father put his vacation home in a trust to me, does he have to still count the property toward his net worth?
Hi Tracy,
Welcome to mortgage fit,
No, He can not put the trust's income towards his net worth.Trust is a separate entity and has a stand alone legal status as far as income is concerned.
Feel free to ask any further query if you have.
DIPA
Welcome to mortgage fit,
No, He can not put the trust's income towards his net worth.Trust is a separate entity and has a stand alone legal status as far as income is concerned.
Feel free to ask any further query if you have.
DIPA