I'm sick. Many people have said that during social chat, but now my doctor's saying so too...
I want to give my children a large sum of money each, but I want my wife to look after it, manage and invest it, until such time as she sees fit to give it to them. I understand that any child of 18 or over could challenge this, but if they're smart enough to do that, they're probably ready to manage their own share of the money, so that's OK!
My death is already IHT-proof. The above arrangement will (I hope) mean that if my wife dies after me, she wont have to pay IHT on the estate she leaves to the children.
What do we have to do to make the arrangement 'real', such that the tax office cannot argue that my wife, not the children, actually owns everything that she has control of such that she is above the CGT limit? small part of what I want to give them is tied up in investments that we can't readily sell. Does this matter, or would it be simpler to forget that part? Thanks
You're a great & helpful group. Tony snipped-for-privacy@tonyjeffs.com