I have never looked into the child support side, but if it was centrelink they would regard any trust in which you dad had a role as being his assets and income. So if he was an appointor/trustee/beneficary/director/shareholder in any trust or company then there would be a very long form to fill out and they would assess the trust and possibly…[Read more]

You could be appointor of a trust and executor of a will. They are totally separate issues.You should also get advice on the asset protection issues involved.Also it is not a good idea to have a whole family under one trust. Bad idea possibly because if the trust is attacked all the assets could be at risk. The Family Court can also get at…[Read more]

yes

Yes, you should be able to see the title search – what if it is the wrong property?The trouble with conveyancers is that the are too cheap and have to do too many deals to make money and they therefore don't like to chit chat.There role is to, basically, do all searches that haven't been done, organise the signing of transfers and settlement…[Read more]

Firstly, is the property solely in your name now? Assuming it is.CGT wll be payable on the sale price less value at the date you moved out of it you moved out of it, so roughly $600k – $580k. Less fees such as stamp duty etc. 50% discount on CG too. So probably little or no CGT will be payable.Your husband can buy your property and borrow to do…[Read more]

Don't forget trust assets do not pass through the will.So the executor will have no role in dealing with any assets held by a trust.If a person has not assets other than those which they indirectly control via a trust then there is no need for probate.

I think you will find CGT will be calculated on the sell price less the buy price less any expenses including some expenses you incur on the reno, but not all. I dont think a valuation will be necessary for CGT purposes.Best to talk to your tax advisor.

Don't think getting a valuation would reduce CGT. What do you mean? are you living in the house?

You would have to read the deed. But probably the trustee could amend the deed, though this may need the approval of the appointor and/or guardian.Most of the time adding a beneficiary would cause a resettlement.An indirect way around this may be the use of corporate beneficiaries. Need to read the deed again to work this out

Don't mix any properties/loans.If a property is used as security they mortgagee can take possession easy. If not used as security they would need to go through a longer court process of getting a judgment etc. This will give you much more time and flexibility in deciding what you sell and when rather than the bank deciding.

Certificate of title will list the legal owner which is the trustee. You can determine if the owner is a company or your grand dad, but not if they held the property as trustee.What do you need to know?

Minors don't have legal capacity so I don't think a minor could act as an appointor until they reach 18.Trustees and appointors can be changed without resettlement. But this doesn't necessarily mean that a resettlement won't occur. Careless changing of the trustee could result in stamp duty being due again.

good luck

Probably. The trustee should be able to request a copy – maybe a fee will be charged. The accountant may also have it or a copy.

yes

BTW I should mention that a guardian could be another term for an appointor or it could be another position altogether. You really need to read the deed to determine what the role and powers of each player are.As for the company. It is totally separate to the trust. So the appointor has no power over it. What you want is control over the shares.…[Read more]

The company is totally separate and is governed by the corporations act and constitution of the company. A company is basically controlled by the shareholders who can vote and appoint the director. So you would have to get the shares or 51% of the controlling shares to appoint yourself OR have the shareholders appoint you.

Its probably the guardian/appointor that can appoint another or a replacement appointor. You really have to read the deed as this contains the rules for the trust.

It depends on the trust deed. If the trust deed permits it and if the director is the sole director of the trustee company then they can resolve to amend the deed.

I think you are confusing yourself again. If the company is the trustee then your grandfather is probably just director.down the track you wouldn't want to be trustee as there is some risk to taking on the role and you would also have to change title deeds to all property of the trust. Best to get a company as trustee and you be director of the…[Read more]