Investment Property is NOT Automatically Exempt from Inheritance Tax (IHT) It is widely recognised that although most ongoing active businesses are exempt from Inheritance Tax (IHT) upon the death of the owner(s) or controlling shareholder(s), businesses where the main activity relates to investment property or properties are NOT exempt from potential IHT liability. Can I …
Jointly Owned Property and Wills – The Connection
Jointly Owned Property and Wills: If you own your property as Joint Tenants with another person or people, you may decide that you want to change the ownership, so it is then held as Tenants in Common instead. This will enable you to gift your share of the property to someone other than your co-owner(s) …
Use a Will to Protect Assets of People with a Terminal Illness
Not a cheerful subject, however, most of us are reluctantly aware that we are not immortal. Some people shall never be aware of the timing of their demise. However, for others, they will be diagnosed with a terminal illness and must continue for the remainder of their life with the additional burden of that knowledge. …
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Devon Will Writer – Tenancy in Common Explained
If you own a property jointly with at least one other person, you may own it together as “Joint Tenants” or you may own it together as “Joint Tenants in Common”, as a leading Devon Will Writer I can help. What is the difference? Owning a property as Joint Tenants means that the co-owners are …
Excluding an Estranged Spouse or Child from your Will
Undesirable though it surely is, people do become estranged from their spouses and children for many reasons. This then leaves the dilemma of whether or not to provide for such family members upon our death. If you do wish to do so, then you need not take any additional action. However, if you wish to …
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