Mike Workman

Registered with Property118.com
Friday 15th April 2016

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Total Number of Property118 Comments: 1

Mike Workman

11:59 AM, 28th September 2021, About 2 months ago

Purchase of second home in Family Trust for son?

Hi. We too have a son on the autism spectrum and we set up a company to hold the properties. My daughter is a director and Class A shareholder while my son is a class B shareholder but not a director. I am a director but not a shareholder. Doing it like this allows us to declare dividends for Class B shares according to our son's needs while keeping control of the portfolio. An alternative we looked at was creating a trust to hold the class B shares, but this seemed too complicated and of little benefit.
Hope this helps
Mike... Read More