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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
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Master's Degree
31,688 satisfied customers
To add my adult child's name to the deed of my property-
To add my adult child's name to the deed of my property- what is thd process, cost etc ? Thank you … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
My father has dementia and is now in residential care. He
My father has dementia and is now in residential care. He has been in a de facto relationship for about 20years. He owns a share of his house (that he lived in before moving into care) but his bank ac… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
I am applying for a residential care subsidy for my father
I am applying for a residential care subsidy for my father who has just gone into a dementia unit. His house and a small amount of cash is in a family trust. Can they make us use this money before he … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
Myfather. My father in law has about 1,000,000 in CASH AND
My father in law has about 1,000,000 in CASH AND SHARES. My freind said we should reduce his assets by gifting as her lawyer has advised her.. -my friend says 6000 per person up to 27,000 per year in case he goes to a rest home (and that money could go to paying for the rest home care. However our lawyer says that the 27,000 is old law and the new law states that only 6500 can be gifted per year to only one person. what is correct now? … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
My mother and father settled a trust with themselves as
My mother and father settled a trust with themselves as discretionary beneficiaries and us 4 children as final . They have gifted off the $550k loan to purchase at $27k pa and there is nil balance owi… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
Going into a rest home, have a trust which gives us a
Going into a rest home, have a trust which gives us a monthly amount from interest and share dividend to top up our super, not a big amount. The trust has its book done yearly and our accountant sugge… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
I am an excutor of my deceased aunties estate. Also my
I am an excutor of my deceased aunties estate. Also my sister and dad. Dad is in full time hospital care so wants to resign as executor. I know there is a form for him to sign, as I am his epoa can I … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
My sister is applying residental care subsidy with WINZ;
My sister is applying for the residental care subsidy with WINZ; Winz have agreed her assets are under the threshold. But WINZ are saying that a trust that my sister setup for her sons needs to give h… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 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
31,688 satisfied customers
My widowed mother went into residential care 10 months ago. Her asset test confirmed she w
My widowed mother went into residential care 10 months ago. Her asset test confirmed she would be fully subsidised and we were told we would not have to sell the family home. I received a call from WI… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
My mother is quite ill, but would not go into care. Suddenly
My mother is quite ill, but would not go into care. Suddenly she has said she will. She lives in Kerikeri, but has decided she will move closer to us possibly Papakura. She is 75. She is only on a pen… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
Is it advisable to continue a gifting programme to a family
Is it advisable to continue a gifting programme to a family trust now that gift duty has been abolished.… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
My fathers will had a trust and trustees ,which had residual
My fathers will had a trust and trustees ,which had residual properties etc to be managed.my mother could recieve an income,,, 5 years ago my mums lawyer found the title to the house she lived in was … read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 satisfied customers
When someone enters a rest home and they are above the asset
When someone enters a rest home and they are above the asset threshold set by WINZ for being able to get a subsidy for the resthome fees, are they still allowed to gift $6,000 per year without being d… read more
Chris The Lawyer
Chris The Lawyer
Lawyer
Master's Degree
31,688 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
31,688 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
31,688 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
31,688 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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