Hmmm interesting dilemma.

Here is my non accountant, non lawyer view of this (Danger!, Danger!, Danger!).

The house you bought (or constructed) was for investment purposes (rental income). Hence you should be able to deduct the mortgage payments off your income tax. Get a loan (personal/family/anything really) to get it connected asap. Hopefully…[Read more]

Testamentary trust is the way to go.While it’s nice doing stuff for the children / grandchildren, it’s better if you control it. You don’t want them selling a property just to buy a 4WD! Build generational wealth instead!

Resettlement of the Trust can occur with the changing of the Trustee (and CG can result, however it depends on the State the trust was registered in and whats written on the trust deed), however unless you need to change the trustee regularly or setup a corporate trustee for a particular purpose it should be okay to leave it as it is (search for…[Read more]