What stops me from transferring all my wealth to a company (in which i hold all the shares) at a nomial price.
That way:
1. I can book losses on my holdings when I transfer the assets to the company.
2. When I die, I can nominate my leagal heirs to the shares and they will not have to pay any inheritance tax, if any
3. If my creditors sue me, my money is safely in the legal confines of my company
Thoughts / comments?
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