Following a spouses death and where a Will proclaims that the deceased’s estate is inherited absolutely by the surviving spouse,and insofar as the estates investments are all In ISAs,I understand that when sold and passed to spouse,that an ‘Additional ISA Allowance’ can be obtained and cash resulting from the sale can be reinvested using this allowance,preserving ISA status for surviving spouse.The resulting ISA accounts would be in his/her name.
If the above is correct would this benefit be lost to the surviving spouse if the Will had an ‘IPDI’ associated with it whereby the deceased assets were transferred to Trustees,and s.s. only had access to the deceased’s assets by way of ‘loans’ from the trustees
Would the Trustees be able to make use of this additional allowance and set up a Trustees ISA?…but with no benefit to s.s.
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