Hi, We have a Family Investement Co. we have mortgages in our personal names from a partnership that was incorporated, the company has beneficial interest but how do we down-pay the mortgages. The mortgage companies assume the mortgages are personal, If we pay off some of the debt, it would show on balance sheet but who pays, us or company. If it was us would this increase directors loan ? Great video by the way.
Hi Alan - are you sure its and FIC - have the articles of association been changed accordingly and a strong shareholders agreement been out into place? Strictly speaking you need to change your mortgages as your contracts are personal and not with the company. If you pay down the debt that increases the value of the capital or growth shares depending on how you have set it up - it has no impact on any directors loans. Thanks for your comment on the video- If you need help book a free meeting on our website
Hi I always find your content very interesting I have a will and trust set up by an financial advisor I understood most of what he said and that is how I wanted for my family when me and my wife are gone my property assets are around 5 million my questions is he didn’t ask for any fee for setting up a will and a trust is there any catch at the end
Not sure why no fee was charged - maybe he waived it if you are a goog long term client. However for 5 million of assets a Will which includes a Will trust is not as effectice as an Estate planning structure - watch our video - Is Estate planning more important than Inheritance tax planning
Hi, We have a Family Investement Co. we have mortgages in our personal names from a partnership that was incorporated, the company has beneficial interest but how do we down-pay the mortgages. The mortgage companies assume the mortgages are personal, If we pay off some of the debt, it would show on balance sheet but who pays, us or company. If it was us would this increase directors loan ? Great video by the way.
Hi Alan - are you sure its and FIC - have the articles of association been changed accordingly and a strong shareholders agreement been out into place? Strictly speaking you need to change your mortgages as your contracts are personal and not with the company. If you pay down the debt that increases the value of the capital or growth shares depending on how you have set it up - it has no impact on any directors loans. Thanks for your comment on the video- If you need help book a free meeting on our website
Hi I always find your content very interesting I have a will and trust set up by an financial advisor I understood most of what he said and that is how I wanted for my family when me and my wife are gone my property assets are around 5 million my questions is he didn’t ask for any fee for setting up a will and a trust is there any catch at the end
Not sure why no fee was charged - maybe he waived it if you are a goog long term client. However for 5 million of assets a Will which includes a Will trust is not as effectice as an Estate planning structure - watch our video - Is Estate planning more important than Inheritance tax planning