Wills

[Justin Passing]

Things didn't go the way I wanted today so I ended up with "a cup of coffee" on the trading account. -

A day gain of 0.02% would match a bldg soc, so it's ok.
The rest is fixed interest & trackers of sorts.

 

[motorbiking]

I’m not disagreeing mate. And tbh I’ve not been for a while now.

Livigno was my favourite place

boarded there, very nice. Some good off piste

 

[motorbiking]

Things didn't go the way I wanted today so I ended up with "a cup of coffee" on the trading account. -

View attachment 422803
A day gain of 0.02% would match a bldg soc, so it's ok.
The rest is fixed interest & trackers of sorts.

if you track it, day to day, it can be quite stressful. Some days I've lost a house

 

[Dec27]

boarded there, very nice. Some good off piste

I’m always on the piste!! There’s a drink the Italians have after the slopes, it’s a creamy fairly boozy drink with whipped cream on top.

Livigno was excellent, one side of the mountains in the morning, stop for lunch and do the other side in the afternoon.

 

[Elsa TLC]

Chintzy loafers would not last five minutes in those aprés dives. Hoodies and fleeces get tied around the waist.

Interesting fact: Ischgl bans people stomping about in their ski boots after 8:00 pm.

Keep to the subject bucket, if yoi have anything helpful to say.

 

[Justin Passing]

Its possible they aren't aware of the tax you are talking about.

Even if you inherited your partner's allowance. IHT will be 40p in the £ over £1M - so a £3.5M estate = 7figure tax bill and thats without any income or capital gains due in the year.

Not quite.
there's 2x the 325, but you only get the 175's if you're leaving property to a direct descendant.
Of wot I ain't got.

 

[Justin Passing]

Marry someone, anyone, and let them ‘worry’ about it. Go out with a bang!

I need a family mate.
Kids to buy houses for
daughters for a cuddle
sons to cut the hedges
Grandkids to make AI robots and go for pizzas with.

 

[motorbiking]

Not quite.
there's 2x the 325, but you only get the 175's if you're leaving property to a direct descendant.
Of wot I ain't got.

The whole thing is nuts. Everyone should get the same.

 

[pete01]

Could you not take out a few credit cards in your name and let whoever you want to leave some to have them and buy what they like?

I always thought id do that if I was well off enough to.

Spend some before the government gets it.

 

[Elsa TLC]

Could you not take out a few credit cards in your name and let whoever you want to leave some to have them and buy what they like?

I always thought id do that if I was well off enough to.

Spend some before the government gets it.

Tjats a good idea.

 

[Dec27]

It’s the typical mindset of someone who has built up wealth from nothing.

My dad’s in a similar position and won’t take any paid advice.

 

[Murdochcat]

HMG takes 40%

That’s the headline but what people often miss is that if your estate is over £2 m then the relief reduces so that after £2.35 m EVERYTHING is taxed at 40%

 

[blup]

Consider setting up a blind trust and transfer some into that. It makes sure your niblings get the money not their spouses/partners. Over time the charges to tax can be greater than 40 per cent so probably not worth it if you expect to live 20 years plus. Oh, and survive 7 years to avoid IHT on the initial transfer into the trust.

 

[Justin Passing]

That’s the headline but what people often miss is that if your estate is over £2 m then the relief reduces so that after £2.35 m EVERYTHING is taxed at 40%

That's only for the property tax-free allowance.
The odd thing is that you can give money away to get yourself below 2m, and it does NOT get hit by the 7 year rule. Counterintuitive.

 

[Justin Passing]

Over time the charges to tax can be greater than 40 per cent

Eh? I'm not with you.