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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Property Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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Can a deed of assignment on a bond be done after encashmen

Resolved Question:

Can a deed of assignment on a bond be done after encashment?
Submitted: 2 years ago.
Category: Property Law
Expert:  UKSolicitorJA replied 2 years ago.
-Could you explain your situation a little more?
Customer: replied 2 years ago.
My mother died in 2012 and left me a bond I have encashed but have been advised that I might be liable to a gain and it has been suggested I could possibly assign it to my wife and myself
Expert:  UKSolicitorJA replied 2 years ago.
Hello,
If you have already cashed in the bond, it is not a bond anymore and therefore cannot be assigned now.
Be that as it may, I do not see what liability you have as far as tax is concerned unless your mothers estate was more than £325K and the estate was unable to pay the inheritance tax due.
Hope this helps
Customer: replied 2 years ago.
Because I was a life assured on the plan
Expert:  UKSolicitorJA replied 2 years ago.
I would suggest that you speak to the insurer about assignment but it is too late now as far as legally concerned.
All the best
UKSolicitorJA and other Property Law Specialists are ready to help you
Customer: replied 2 years ago.
Thanks for your help