When should you not own the assets you've invested your hard-earned money in? Perhaps when it's better to have them in a trust.
When you own things and are in business, or go into a new relationship, there's an element of risk associated with that. A trust can be a good way to manage it.
There are several good reasons to consider a family trust owning things like the family home, shares and other items of wealth. This is a discussion to have with your lawyer but you may be prompted by your accountant or business adviser for good reasons — here are a couple to consider.
1. Business risk. Having your assets in a trust can protect against claims made by creditors in the event of a failed business or other legal complication. But watch out — there could still be some exposure if you use trust assets as security over business loans or if you've tried to transfer assets into a trust before a business goes down the tube.
Intentionally trying to move stuff into a trust when you know you are in trouble can result in those things being clawed back.