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Your assets

If you have assets, particularly a home or a car, your trustee will need information about their value they may need to be sold to pay off your debts.

If you own your home jointly with someone else, the trustee can only take your share of the property equity. That is the amount of money you would have left after selling your home and paying off the mortgage.

You may be able to set up a trust deed that does not include your home. This would be agreed with your trustee before you sign the trust deed.

If you sell a home that was not included in the trust deed, any money you are left with after the cost of the sale must be passed to your trustee.

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