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Where Taxpayers and Advisers Meet

Asset ownership

Bobbych
Posts:1
Joined:Wed Jan 16, 2019 3:19 pm
Asset ownership

Postby Bobbych » Wed Jan 16, 2019 3:28 pm

This is probably a daft question and I think I know the answer but just want to make sure.

My elderly In-laws live in a property they own. They have many investments mostly in one name. The entire estate is in the Nil Rate band for IHT for a married couple.

What i want to know is do the assets need to be equality owned i.e the investments need to be in joint names.

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Asset ownership

Postby pawncob » Wed Jan 16, 2019 4:51 pm

Owning assets jointly makes it much easier if one party dies, as the assets pass to the other party without having to undertake the legal niceties. It's not essential, but so much easier.
With a pinch of salt take what I say, but don't exceed your RDA


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