Jan 06, 2014 4:41 AM

I wouldn't transfer it. Unless you want to pay a shitload of tax.

I see.

Can we not set the value at what we paid for it as long as the credit is covered?

Nope. In fact if the corporation doesn't actually BUY it, it will owe the assessed value in taxes.

If it BUYS it, it is INVESTED CAPITOL and will save you taxes for a few years.

Ok. So then can it not be gifted either?

You can't "gift" to an artificial person.

Can you GIFT to a Living-Sole-Beneficiary?

THAT was going to be my next question! I was just worried about taking up too many question slots.

NO. only a PERSON

Can Scott Duncan be gifted?

Can *insert name on birth certificate* be gifted?

[ask if it is JOHN SCOTT DUNCAN who can be 'gifted' ?]

Scott Duncan can't own anything and id duty bound to distribute any "gifts" to trustees.

JOHN SCOTT DUNCAN is "In Detention" (Liened) and the "gift" would be a frozen asset.

You can try the whole "Have your cake and eat it too" thing if you want, but LEGAL is separate from REALITY.

Does this "gift" mentioned, ever become an UN-frozen asset?

Doesn't matter it is a private thing, terms are set by charter and term of lien, IE 5 years, 1 year etc�

Which are drawn from a original trust agreement or covenant.

As per wishes of the grantor and creator of original agreement..