Trusts for children as part of estate planning

Bronte

Registered User
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15,130
If one is in a lot of debt, lets say a couple of million and the bank were calling in the security on the loans, mortgages and personal guarantees etc how could one protect one's assets from the banks via a trust.

For an ordinary property in my name, the bank would have a mortgage on it so I couldn't put that in a trust could I?

But if my properties were without a mortgage or held in security but instead I'd given only personal guarantees could I then put the property in a trust? Any reason why that cannot be done?

Would a bank loan money to purchase property without having a mortgage and would they rely only on personal guarantee?

Who the person who allowed such a facilty to a borrower not need to be fired for stupidy if the last option is true. Could the shareholders of the bank sue the bank board for this carry on?