Consent of liquidating trust
Advantages of a trust There are a number of advantages to placing assets in a trust for estate planning purposes. If you have made use of a loan to the trust, the value of the assets as at the date of transfer remains an asset of your estate because of the loan account in your estate. Also, the trust does not pay CGT as long as an asset is not sold. On the other hand, assets in your estate may not be freely available to your dependants, because your estate is frozen during the winding up process. A beneficiary cannot sell a right in a trust (unlike shares in a company). The growth on assets, such as shares, transferred to a trust is not subject to estate duty, because the growth belongs to the trust. This means that a trust is not liable for estate duty, other taxes or costs, such as transfer duty, executor's fees, or conveyance fees, that would be payable in the hands of your estate or heirs. The value of any assets transferred to a trust is effectively frozen for estate duty purposes. Trusts continue to pay benefits to dependants (beneficiaries) after you die.To obtain an online referral form for EPTS, please click The PGT does not administer all of the estates that are referred to us.For example, the PGT does not administer an estate when the assets are not sufficient to pay the funeral and administrative expenses and our fees.Executors, intestate successors, and beneficiaries wanting to refer an estate to PGT Estate and Personal Trust Services are encouraged to contact our office and speak with EPTS Duty Officer prior to submitting a referral.
Extensive newspaper advertising, email notifications to individual buyers, and a web page promote your sale prior to the event, while comprehensive signage the day of the sale attracts people from all over!Free on-site consultations can help you with your decision.Please give us a call and set up an appointment at (716) 741-2120.If no contest is filed within a 120 days, then the notice recipient may forfeit their right to file a contest.But if no notice is mailed, the statute of limitations in which a trust contest could be filed is much greater, and could be up to at least four years.