J&G are directors – we need to not own the assett purchased by xxxpty ltd – we have another zzzzpty ltd as trustee for sview trust g&j are directors can we resign from trusts – can we swap sview trust family trust we do not operate sview bus & trust any more & can finish it – assett of pty ltd family trust is 1k commercial & we have loan against home for 1.2k against home -we can't sell commercial property & we have no money left we can't get pension as too many assets we don't want to lose home – we are 64 & 66 – is there any way of children taking over trust?? ….bit mess!!
Bit confusing. I cannot understand what you have written.
You cannot swap assets between trusts or consolidate them (at least without some major issues).
You could have children take over the trust. But whether this will assist you claiming social security will depend on many things. Complex stuff you need to seek legal advice.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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