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My widowed mother currently lives in retirement home.She has
Hi Pearl.My widowed mother currently lives in retirement home.She has dementia and when it worsens to the point that she needs care,she will be transferred to a unit with fulltime care.My question is … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
Would I be able to gift my inheritance money to my children
Would I be able to gift my inheritance money to my children without affecting future residential care subsidy. If gifted from my parents trust of which I am a beneficiary would that affect it if neede… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
My lawyer tells me that a period of 10 years is required
My lawyer tells me that a period of 10 years is required before the courts have no power to claw back assets if I should become ill and require residentiall care. Is there a definitive period that tru… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
How does an elderly couple stand in terms of illness in the
How does an elderly couple stand in terms of illness in the future, where one is caring full time for the other but because the illness is progressive like dementure or parkinsons disease, their husba… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 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
15,838 satisfied customers
We have a family trust (the house is the only asset). Over
We have a family trust (the house is the only asset). Over the past 20 years as settlors we forgave the debt of the trust to ourselves meaning the majority of the house value ended up in the trust. We… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
My mother is 93. About 6 m0nths[ago she owned her own home-
My mother is 93. About 6 m0nths[ago she owned her own home- it got to much for her -serious health issues so sold the house$400,000.to her sister and son and then she moved to her house. The money was… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
I have just retired. My wife and I have limited assets - $140000.
I have just retired. My wife and I have limited assets - $140000. Can we gift $25000 to our daughter so that we qualify for residential care subsidy when and if we need it? Thanks John… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
Hi Sir/Madam, I intend to set up a TRUST my family home in
Hi Sir/Madam, I intend to set up a TRUST my family home in NZ with my children and myself being beneficiaries. Since there is no longer any NZ gift tax at the moment, I now could with immediate effect… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
My Dad is in a rest home and is paying fully without a subsidy.
My Dad is in a rest home and is paying fully without a subsidy. How much money can he gift each year from his account and can that be back paid from the time he went into a rest home. Many thanks.… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 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
15,838 satisfied customers
If my husband and I are legally separated, but not divorced,
If my husband and I are legally separated, but not divorced, are we still legally each other's spouse? As such, can we give each other gifts to any value we like, without incurring any gift duty liabi… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
My father is going to turn 65 in September. He has dementia
My father is going to turn 65 in September. He has dementia and is in a rest home - has been for 1 year. My mother still lives in the community and in the family home they own together, which is mortg… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
Nearly 2 years ago my Father in law went into a rest home,
Nearly 2 years ago my Father in law went into a rest home, he has been paying for himself out of savings. His money will run out in February 2013 and we will need to apply for a rest home subsidy. For… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
My Mother wishes to transfer/sell her property to my brother
My Mother wishes to transfer/sell her property to my brother and I (we both have trusts), how do we go about doing this? Does money need to change hands or is this a paperwork trail? Thanks… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
WINZ has let the family know that they cant make me sell my
WINZ has let the family know that they can't make me sell my house. I'm planning to move back into the house in late January. Can WINZ still use the money my father has invested in the house to assess… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 satisfied customers
Good morning. I am , from time to time checking out any
Good morning. I am , from time to time " checking out " any up-dates on the Nat. Govt.'s plan to remove Gift Duty. Due to an incompetent person, who failed to carry out my instructions , some years ag… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
15,838 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
15,838 satisfied customers

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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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