Court grants bid by son, 26, to end trust for $4.9m house, rejects dad’s claim it was ploy to avoid ABSD

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A 26-year-old whose parents set up a trust for a $4.9 million house that was to be transferred to him when he turns 40 will be able to get the property immediately, after he succeeded in his court bid to terminate the trust. Mr Alistair Lau wanted to terminate the trust to...

In 2021, the couple’s relationship turned rocky. Madam Sng filed for divorce while Mr Richard Lau moved to a Lorong Ah Soo flat.

Madam Sng did not object to his application. She agreed with her son that she and her husband had created the trust to gift him a legacy property while they were still alive. He claimed that their lawyer advised them that the trust could easily be “collapsed” after four years and that the couple could “take back” the property if they wanted.

The judicial commissioner said the evidence showed that the couple had intended to set up a trust to benefit their son. There was no credible evidence that the couple would have been unable to afford the ABSD, he added.

 

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