IbrahimAbi

Grey wisdom
Wanted: Good news
I think she (Linsey) has already advised that my daughter obtains life insurance, which I hadn't thought of previously, and I would add that in a contract she accepts legally that in the event of her worst case scenario the property is passed to us, plus her life insurance.
In our worst case scenario we would stipulate that the loan would be payable to one of us if the other dropped off his/her perch. If both of us got hit by a bus at the same time, our wills already give everything to the kids on an equal basis.
If you both died in a car crash, and the loan/house was in your daughter's name how would that distribute equally to each child?
 

Mushroom

Member
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Wanted: Good news
If you both died in a car crash, and the loan/house was in your daughter's name how would that distribute equally to each child?
If the daughter doing the lending was sat on the money we lent her, the other would match that amount for herself from our remaining savings and then what is left from our savings and Assets (house) would be divided by the two of them.
 

yalimart

The Carnwath Massive
Wanted: Good news
If you both died in a car crash, and the loan/house was in your daughter's name how would that distribute equally to each child?
The debt would still be counted as a Mushroom asset in terms of probate, it doesn't sit outside his estate for inheritance tax purposes if any is due.
If the property doubles in value the asset belongs to the daughter, only the debt is due to Mushrooms estate should he slide off this mortal coil. the value of which would be deducted from her inheritance
So in essence its the estate that is split down the middle and not the property. The daughter has gained from the appreciation of the property and that is her good fortune.

We have a similar scenario within our family at the moment, hence my interest.
 

Mushroom

Member
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Wanted: Good news
The debt would still be counted as a Mushroom asset in terms of probate, it doesn't sit outside his estate for inheritance tax purposes if any is due.
If the property doubles in value the asset belongs to the daughter, only the debt is due to Mushrooms estate should he slide off this mortal coil. the value of which would be deducted from her inheritance
So in essence its the estate that is split down the middle and not the property. The daughter has gained from the appreciation of the property and that is her good fortune.

We have a similar scenario within our family at the moment, hence my interest.
Yeah. It would work for us as we can currently stay under the Inheritance tax limits and by lending to one or both daughter's then spending any surplus, we stay below the threshold and the kids benefit from any uplift?
I'm guessing Martin that your good lady has produced this information before she picked the tomatoes and left you with cooking duties?👍
 

yalimart

The Carnwath Massive
Wanted: Good news
Yeah. It would work for us as we can currently stay under the Inheritance tax limits and by lending to one or both daughter's then spending any surplus, we stay below the threshold and the kids benefit from any uplift?
I'm guessing Martin that your good lady has produced this information before she picked the tomatoes and left you with cooking duties?👍
Shes a star, but knows nothing about Zs or Ze or power factors, she also says read up on the "residence nil rate band" many people get concerned about the Inheritance tax threshold, if you have children it's actually a bonus, your threshold is higher
 

Mushroom

Member
Top Poster Of Month
Wanted: Good news
Shes a star, but knows nothing about Zs or Ze or power factors, she also says read up on the "residence nil rate band" many people get concerned about the Inheritance tax threshold, if you have children it's actually a bonus, your threshold is higher
Please thank her for me. I will be reading up and at the end of the day pretending/hoping I know what it's all about.
If I didn't appreciate the knowledge of IFA's I do now !!
 

enoch

Member
Wanted: Good news
Got the xmax insurance today bit of a surprise 102 cheaper than last year's. 256 tl. Cheaper than chips. I was listening to him on the phone with my old company and he was telling them no way to much so they do look after you.
 

Mushroom

Member
Top Poster Of Month
Wanted: Good news
The good news this week, as far as I can see for my house hunting daughter, is that house prices in our neck of the woods are gradually not only settling down, but in some instances being reduced in price.
The talk amongst the estate agents is that there is no longer a queue of people wanting to see properties, no more gazumping and the talk of interest rates rising (and they will) and job security being issues deterring people from taking on more debt than they already have.
I am hoping that this trend will continue into winter, at which that should be a prime time to get the right place at the right price.
I read that some other areas are experiencing the same.
 

Mushroom

Member
Top Poster Of Month
Wanted: Good news
This is great news, what a bad bastard.
BBC News - Jaffa Cakes row PC Chris Dwyer sacked from force
Stupid bastard only had to maintain his stance and accuse his accuser of being the real criminal.
He could have gone to court and with a half decent solicitor put forward that the prosecution had not proved the case beyond all reasonable doubt, then continue his career and eventually become Chief Constable.
Sacked for short changing the sale of Jaffa cakes?
To sponsor a trip to Uganda and sacked by Akbar Khan the man in charge of the panel.
You really could not make this up ?
Meanwhile in London, teenagers are being stabbed to death daily, the Police chief gets an extension on her contract and the Mayor continues doing bugger all !!
 

IbrahimAbi

Grey wisdom
Wanted: Good news
Stupid bastard only had to maintain his stance and accuse his accuser of being the real criminal.
He could have gone to court and with a half decent solicitor put forward that the prosecution had not proved the case beyond all reasonable doubt, then continue his career and eventually become Chief Constable.
Sacked for short changing the sale of Jaffa cakes?
To sponsor a trip to Uganda and sacked by Akbar Khan the man in charge of the panel.
You really could not make this up ?
Meanwhile in London, teenagers are being stabbed to death daily, the Police chief gets an extension on her contract and the Mayor continues doing bugger all !!
Methinks you are embarrassed that this is Yorkshire.
 

shash

shash
Wanted: Good news
Well, the good news is I made it to Turkey and back. The weather was glorious and not a cloud in the sky. But, what an absolute palaver all these rules and this rule changing was/is.
With all the stress that goes with travelling to Turkey at the present time it got me thinking that ' possibly anyone over 60 and so on is being left behind or could be left behind ' unless you have complete and absolute knowledge of technology and a printer to hand and no extra roaming costs. Not everyone in this category has someone to help them. Myself, I don't have Internet in my house in the UK or in Turkey so on the UK side I had to drive to family to get every single thing printed off re: all info to fly. Now you might say ' why not show everything on your phone when at airport ' well although that should be acceptable it isn't always acceptable and the border controls want paper copies. Depends on who you get and possibly what mood they are in.
The same thing on return you have to travel to find an Internet shop to print everything off again.
And if you don't have a smart phone or don't know much about using them if you do, you're more or less up the creek without a paddle. And if you don't have the right telephone/data plan for Turkey again you can be penalised at £6 per day to use your phone. And this can affect you if you need to check email just in case your flight has been cancelled or time changed etc etc. And not everyone has access to free WiFi and some wouldn't have a clue how to get it.

And also with any important phone calls one has to make even in the UK one is then listening to an automated service which tells you to go online. Now, I know many people over the age of 60 that then cannot go any further because they are either not online or don't know how to even if they have it. And are then shy of asking someone for help as they feel it's an imposition to their busy younger friends. And so on... I think you'll be getting my drift.
So, what do you think? Do you think like I do that many, possibly up to a third of our population could and some are actually being left behind.
 

429nufc

Member
Wanted: Good news
Slightly off topic but when we sorted the wills out ,we aren’t married to each other, my partner asked in jest what happens if our plane crashes and we both die. Until then the solicitor had been quids in with her but when he said that she as the oldest would be considered to have died first he lost all his brownie points
 

yalimart

The Carnwath Massive
Wanted: Good news
Yesterday I paid my last NI contribution (class 2) in order to receive the state pension as and when, it means that I have paid in for 45 years now, so to me it's good news as I probably won't make any more payments, my joy was somewhat tempered when it was pointed out that my neice who has never worked will receive the exact same amount if she continues to never work until retirement age, I haven't checked that out but no reason to doubt it.
Still good news from my point.
 

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