Estate Planning Gone Wrong

The definition of a trust is "A holding property for B" where A and B are the same there is no trust relationship. A would just hold legal and beneficial ownership.

I think your answer to my question is yes then? if A is holding for B, then to transfer the property from the unit trust to B, just change the trustee to B at any time of convenience and presto, stamp duty free transfer.
 
I think your answer to my question is yes then? if A is holding for B, then to transfer the property from the unit trust to B, just change the trustee to B at any time of convenience and presto, stamp duty free transfer.

Actually It would probably be subject to stamp duty because the terms of the trust may allow for some discretion. If it was a fixed trust then maybe not.

I have never looked into this, but good point.
 
amazing stuff.

I wonder what happens to the tax obligations and other liabilities of a trust that ceases to exist and has a $2 trustee company? goes with the assets I suppose?
 
amazing stuff.

I wonder what happens to the tax obligations and other liabilities of a trust that ceases to exist and has a $2 trustee company? goes with the assets I suppose?

Trustee would be personally liable and directors would be liable for the company tax debt.
 
so, if you were the sole unit holder in a unit trust that had a corporate trustee, if the trustee was changed to yourself, then the trust ceases and you own the property in your own name?

very interesting

Ausprop just found the stamp duty scheme that is legal.:cool:
 
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