QUOTE(scongi @ Dec 27 2013, 06:01 AM)
I bought the property and finance by loan. I thinking to put my cousin name as joint owner ( for purpose of RPGT first time exemption when the property sell within five year) and create power of attorney and trust deed ( myself is beneficiary and donee and my cousin is donor). Any sifu or simu please advise :-
1) Is the PA and trust deed is effective even after the death of the donor?
2) Is the PA and trust deed is irrevocable?
3) Do the first time exemption is allowed by IRB in the above case (PA and trust deed)?
2.
It is a bit complicated but hope some expect can advise. Tks.
1. yes (assets not frozen)1) Is the PA and trust deed is effective even after the death of the donor?
2) Is the PA and trust deed is irrevocable?
3) Do the first time exemption is allowed by IRB in the above case (PA and trust deed)?
2.
It is a bit complicated but hope some expect can advise. Tks.
2. trust can be revocable or irrevocable
reference: Rockwill
Dec 27 2013, 03:17 PM

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