New Zealand Law
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Answered in 26 minutes by:
1/30/2018
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,268
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
VerifiedHi
I am a New Zealand lawyer based in Wellington and will help with your question today
If you transfer the house to a trust and wind up the company you may have tax issues. The transfer of the house could be assessed at the present value and there could be tax on the increase in value. Putting the house in a trust will not help if you are seeking to protect against rest home subsidy charges, if that was an issue. But as you have a lawyer I suggest you return to him and talk through the issues
I am a New Zealand lawyer based in Wellington and will help with your question today
If you transfer the house to a trust and wind up the company you may have tax issues. The transfer of the house could be assessed at the present value and there could be tax on the increase in value. Putting the house in a trust will not help if you are seeking to protect against rest home subsidy charges, if that was an issue. But as you have a lawyer I suggest you return to him and talk through the issues
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 32,268
Experience: 42 years qualified as a lawyer; LLB, MMgt and FAMINZ.
VerifiedChris The Lawyer and 87 other New Zealand Law Specialists are ready to help you
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