the Taylor's have a family trust called Taylor's Family Trust consisting of Tim, Pearl and Mike (the trustees). Tim and Pearl want use the Trust as security for the loan.

Tim and Pearl have asked if they can proceed with the purchase of the business using the Taylor's Family Trust without involving Tims brother Mike, who is apparently not in favour of the deal and is a trustee In the family trust.

explain to the client the nature of the ownership of their home by the family trust.

Note that we did not act on the setting up of the trust as it was done by Tim's sister in law Abbiea firm. Consider what further information our firm would need to answer this question?