Setting up TRUST

[Laguna]

I am planning to setup my WILL by way of trust. ie vested all my assets including mainly properties into the trust and managed by professional trustee.

Trust will prevent my assets go into the wrong hand (eg, divorce by the children, or in the event of bankrupt).

I read today Straits Times, it appears that if properties pass on to a trust upon death, is still subject to stamp duty and ABSD.

Properties pass on upon death is not subject to stamp duty.

I have written this issue to IRAS for clarification.

Do u have any comment on this subject?
I will share the reply from IRAS once receive.

[mygeemeel]

During two visits to showflats, i asked the same question to agents and then they reverted me to their bankers... they all say subject to stamp duties. Anyway i have decided to postpone setting up Trust so i didnt pursue this. Let me know if you have anything from IRAS. Tks.

[land118]

Interesting, would be interested to know as well. Thanks Laguna in advance.

[Laguna]

seller stamp duty applies based on the original date of purchase by the deceased.

I checked all the FAQ, nothing mention

[hajime]

err...have you checked the fees the trustees' charge? Unless your assets are a lot - it might not be worth your while.

[DC33_2008]

Care to share the process and fees involved.
err...have you checked the fees the trustees' charge? Unless your assets are a lot - it might not be worth your while.

[hajime]

http://www.dbs.com/treasures/sg/product/wealthtransfer/fiduciary/default.aspx

You can check with dbs. I think unless your assets are well over S$ 5 million - better forget it. The bank's fees will eat away a substantial amount of the assets.

[buttercarp]

Hi hajime.....
Hajimemashite, douzo yoroshiku.:)