What to do with inheritance?

[Vratenza]

Yeah I am aiming for his original iPhone and the unwrapped macbook Air...... Hopefully he will it to me instead of that @angcheek

  On 8/16/2018 at 11:55 PM, Yeshe said:

If u are nicer to @radx, perhaps u can hope some small inheritance from him

 

[Yeshe]

  On 8/17/2018 at 12:00 AM, Vratenza said:

Yeah I am aiming for his original iPhone and the unwrapped macbook Air...... Hopefully he will it to me instead of that @angcheek

He will give that small boy his part time basking mike

[Angcheek]

  On 8/17/2018 at 12:00 AM, Vratenza said:

Yeah I am aiming for his original iPhone and the unwrapped macbook Air...... Hopefully he will it to me instead of that @angcheek

 

 

I will give to you for a fee , deal ? 

[Kusje]

  On 8/16/2018 at 2:04 PM, Enye said:

high flyer.... it is possible to keep the assets under the grandparents estate and not put under individual shares/names

 

 

[Soya]

 

  On 8/16/2018 at 11:55 PM, Yeshe said:

If u are nicer to @radx, perhaps u can hope some small inheritance from him

He let me inherit his BMW signals i happy like toad. Pristine condition due to zero usage......lol

[Enye]

  On 8/17/2018 at 5:35 AM, Kusje said:

paiseh paiseh. thanks for sharing.

 

I got no inheritance hence didn't know that. Glad to learn from a sifu with expert knowledge of handling large inheritances.

high flyer.... you no time to google i help you lor

 

got free kopi?

 

 

[Adrianli]

Got a question.

 

Does transferring of the estate of my grandparents to my aunties and uncles(children of my grandparents) incur stamp duty?

 

Then transferring of proceeds of estate sale to me from my mum's share incur any kind of taxes or stamp duty?

[Kusje]

  On 8/18/2018 at 4:40 AM, Enye said:

high flyer.... you no time to google i help you lor

 

got free kopi?

 

 

[Kusje]

  On 8/20/2018 at 7:06 AM, Adrianli said:

Got a question.

 

Does transferring of the estate of my grandparents to my aunties and uncles(children of my grandparents) incur stamp duty?

 

Then transferring of proceeds of estate sale to me from my mum's share incur any kind of taxes or stamp duty?

 

You may refer to the suggestion from my Sifu on how to minimize tax or stamp duties.

 

  Quote

 

 

executors sell the assets first .... money remain under estate account first

 

then split the proceeds accordingly and close account

[Adrianli]

  On 8/20/2018 at 7:13 AM, Kusje said:

You may refer to the suggestion from my Sifu on how to minimize tax or stamp duties.

Noted with many thanks. I hope my aunties and uncles dont go and transfer to their name then.

[Kusje]

  On 8/20/2018 at 7:17 AM, Adrianli said:

Noted with many thanks. I hope my aunties and uncles dont go and transfer to their name then.

 

Actually, for such a large sum, they should already have someone advising them on legal matters so it shouldn't happen.

 

You can just ask them if they already have a lawyer.

[Adrianli]

  On 8/20/2018 at 7:23 AM, Kusje said:

Actually, for such a large sum, they should already have someone advising them on legal matters so it shouldn't happen.

 

You can just ask them if they already have a lawyer.

 

Yesterday i met my cousin and try to know more. But she didn't divulge much. Dont wish to look like i am desperate. Actually, more excited then desperate. From the sound of it, already got lawyers looking over the assets.

[serenade]

  On 8/20/2018 at 7:06 AM, Adrianli said:

Got a question.

 

Does transferring of the estate of my grandparents to my aunties and uncles(children of my grandparents) incur stamp duty?

 

Then transferring of proceeds of estate sale to me from my mum's share incur any kind of taxes or stamp duty?

 

Transfer of house title deeds to beneficiaries due to the owner's death, does not incur death duty. Lawyer will initiate the transfer with SLA in accordance with the Will (if have) , or intestacy laws. The caveat of the transfer upon death without stamp duty, is the transfer was done within months of the owner dying. If the transfer is done years after the owner's death, I do not know the answer.

 

If the answer to Stamp Duty is YES, it complicates things. Someone or every one must contribute money to pay the Stamp Duty, so that the title deeds can be transferred to the beneficiaries. Only after the title deeds have changed names, can the house be sold. There will be added complications if one of your aunts or uncles passes away during the sale process without a Will.

 

See if the lawyer acting for the family can sell the house as part of the estate of the grand-parents. Then the beneficiaries i.e your aunt/uncles agree to appoint an Executor(s) to facilitate the sale. The proceeds received from the sale goes into the Estate's account, all costs are paid from the same account. What is left, is then distributed to all the beneficiaries according to Will or law.  All disbursements have to be officially documented.        

[Enye]

  On 8/20/2018 at 7:07 AM, Kusje said:

I will be glad to have the opportunity to buy you a kopi anytime la Sifu.

wah thank you thank you

 

got chia atas lunch before atas kopi too?

 

 

[Lala81]

sounds complicated.

I think just treat it like online shopping delivery. When it appears on your doorstep, then see how lah 

[Kusje]

  On 8/20/2018 at 1:24 PM, Enye said:

wah thank you thank you

 

got chia atas lunch before atas kopi too?

 

 

[Atonchia]

Donate a small portion in your late mum's name to a charity that she would possibly donate.

[Camrysfa]

TS is so fortunate, got family/relatives invite him to partake in the windfall.