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Stuart J
Stuart J, Solicitor
Category: Law
Satisfied Customers: 22624
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street Practice
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My husband and his 3 other siblings were left a quarter share

Customer Question

My husband and his 3 other siblings were left a quarter share of a will. His share was to be put into a trust and on his death the money was go to be paid to our 2 children. My husband has done a disclaimer saying he no longer wishes for her money and the money should then be transfered to our 2 children.

Can the estate executor stop this disclaimer being put into place.
Submitted: 4 years ago.
Category: Law
Expert:  Stuart J replied 4 years ago.
How old are your children?
Customer: replied 4 years ago.

the children are 30 and 34

Customer: replied 4 years ago.

The children are 30 and sorry 36 not 34

Expert:  Stuart J replied 4 years ago.

Thanks. As long as children are over 18 that is fine. He is doing a deed of variation. Nothing wrong or unusual in that. It means he drops out of the equation and the children take in substitution. The executors/trustees cannot stop that unless there is a provision in the will (which I have never come across) which prevents it.



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Customer: replied 4 years ago.

Thank you for your reply. The only other thing is if they wanted to give me or their father a gift from their money would this be acceptable and no question of fraud

Customer: replied 4 years ago.

If the children give a gift to my husband from this money can it be construed as fraud and the tax implications for the children

Customer: replied 4 years ago.

Can you tell me if the children give any money to my husband can this be mistreud as fraud and also the tax implications for our children

Expert:  Stuart J replied 4 years ago.

I assume that this has nothing to do with avoiding care fees because if it did you would have mentioned it.

Once the children own something they can give it to who they like including their father.

If you explain concern I can clarify

There is no income tax or CGT but IHT may be payable depending on the value of their estate when they die and when it was given