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My aunt lent $250000 to my dad and dad now sold his house
My aunt lent $250000 to my dad and dad now sold his house and would like to repay his sister, no loan agreement was drawn up. It is a repayment, not gift, how can we avoid being penalized for gift tax… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
I want advice on setting up a family trust to protect an
Hi Pearl, I want advice on setting up a family trust to protect an imminent inheritance from my recently deceased mother. Mike … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
WE ARETHINKING OF A REVERSE MORTGATE OUT HOME IS NOT
WE ARETHINKING OF A REVERSE MORTGATE OUT HOME IS NOT FREEHOLD … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
We are house but cash poor, considering a reverse mortgage
we are house rich but cash poor, considering a reverse mortgage opinion please … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
My trying to help out my grandparents, they want to borrow
My trying to help out my grandparents, they want to borrow money from their house … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
How does the changed Trust law apply to the gifting
How does the changed Trust law apply to the gifting programme that my wife and I undertook in previous years. Our schedule of gifting already carried out before the new law changes, was as follows... … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
My wife an I received a monetary gift from her mother in
My wife an I received a monetary gift from her mother in 2010, it amounted to $27,000 the most one could at that time give without paying duty. We had borrowed in $130,000 from my wife's mother in 200… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
I am turning 70 soon and have a small beach house. How do I
I am turning 70 soon and have a small beach house. How do I transfer it to my 3 children so they dont have to pay tax or have to give it back if I have to go into a home? We want it to stay in the fam… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
My brother borrowed money to buy a jet ski. Before he had paid
My brother borrowed money to buy a jet ski. Before he had paid any money off it he died. I went guarantor on on the loan. Just before he died he gifted the jet ski to his partner. Am I able to get it … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
If some one dies and they have a loan can they transfer their
If some one dies and they have a loan can they transfer their funds to someone else before they die.… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
After the abolishing of gift duties what is the reason to restrict
After the abolishing of gift duties what is the reason to restrict the gifting to $27,000. After 11 years of gifting my wife and I see it a revenue gathering exercise only now.… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
This is stated in a Will: Gifts: I give to the trust all
This is stated in a Will: Gifts: I give to the trust all loans which I have made to the trust in my lifetime and which the trust has not repaid at my death. What does this mean?… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
I am the Settlor of my Family Trust (beneficiaries my children
I am the Settlor of my Family Trust (beneficiaries my children and self) made in 1995 and have an Acknowledgement of Debt in place for some $530,000 of total assets transferred of $700,000. Income has… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
What are the advantages and disadvantages of paying off my
What are the advantages and disadvantages of paying off my family trust totally now? Is it worth having a trust now? Thanks Maris… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
Hi there - my question is this - I set up a trust for myself
Hi there - my question is this - I set up a trust for myself earlier this year and intend to put my home into this trust in november when the gifting law changes. I have quite a large equity in my hom… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
My husband aged 65 is in Residential Care. We set up a family
My husband aged 65 is in Residential Care. We set up a family trust in 2002 but the gifting won't be completed for 12 months and so I see our small cash investment diminishing rapidly as I pay for his… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
I bought a NZ company in Oct. 10, want to put in fam. trust
I bought an NZ company in Oct. '10 with 2 partners, we each paid $160k for it, and I have established a trust I want to put the company into. The company is repaying us our shareholder loans gradually… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers
Hi Chris My father passed away on 6/1/11, & did not return
Hi Chris My father passed away on 6/1/11, & did not return home after the accident I advised you about. In aprox Feb09 I visited NZ & Dad gave me a gift of money & transferred some term deposits to me… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
32,024 satisfied customers

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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