Video description from @notgpodcast
So legacy planning, as long as you are kind of planning for your legacy, always take note of the sequence, because at some point of time we will definitely pass on. So let's say I have two kids. I want to make sure that I'm able to pass down the property to them. I do expect my life expectancy to be at the age of about, say, 75. I want to make sure that I'm able to free up some cash, help them to jumpstart their asset progression first, and then after that, making sure that they own the property before they inherit because doing so, they will not incur any form of ABSD. Whereas on the other hand, if, let's say, they inherit first before they buy, then the second property will have ABSD already. So I want to plan it in such a way that I'm able to sell, I don't need such a big house and I can cash out. So this, the scenario is going to be like, I'm 55 and then, let's say Justina, the wife, is 65. Based on my $10k income, I'm still able to take a loan of about $500k, I will still want to take a loan....[outro]
