Case ConundrumWills, Gifting, Tax

Case Conundrums, Graham Greene

July 8, 2021

Graham Greene DOB 04/09/1970 is in an unmarried relationship with Vanessa Bell DOB 10/10/1965.

  • Graham’s estate is above the IHT threshold
  • Graham wants to appoint Vanessa as his executor. He wishes to appoint your firm as substitute
  • He wishes to be buried
  • He wishes to make a cash gift of £10,000 to his niece Emily Winter
  • He wishes to split the estate into two to protect his RNRB
  • 1st part to be to a VBT for his grandson Boris Greene who is disabled. On Boris’ death, this part is to be divided as to a 50% share to Graham’s daughter Susie Day and a 50% share to his son George Greene
  • 2nd part to go to a FLIT with Vanessa as the life tenant. At the end of the life tenancy, or if Vanessa predeceases, this part is to pass into general residue
  • Then it is to be divided into two 50% shares – 50% is to go to George – however, if George predeceases, this share is to pass to the next level of residue where it will be left on a VBT to Boris – when Boris dies this share is to pass to SusieThe remaining 50% is to be given to Susie outright per stirpes(Webinar recorded 7th July 2021)


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