
Originally Posted by
Gene
I have a dormant trust with my youngest as beneficiary- as i have 4 children is it good to change the trust to have 4 beneficiaries?.
i need to buy a flat/small house for the older as he is mentally challenged and want to let the other beneficiaries have the benefit of having the property after him, can i change the trust or need i have to make a new one that includes the 4 beneficiaries.
What will the tax implications be in such a case as i will buy it with my own funds, and will it go (property) on to benefit the beneficiaries thereafter without any tax implication?
I am a noob on trusts if someone can spell out the pro's and cons
Thanks
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