Finance Questions? Ask a Financial Expert for Answers ASAP
I was thinking in terms of whether some form of Trust could be established. I appreciate that Trust law is a complex field with numerous pitfalls, but I was just wondering if, in principle, such a structure was possible?
Trust issues can be very complex, from both a legal and taxation standpoint. One of the issues is A) how to get property INTO the trust and B) how to get property OUT of the trust.
The costs to set up and manage a trust may be greater than the tax savings realised, depending on the situation. Rarely is a trust justifiable by tax savings as the sole reason for establishing such a legal scheme.