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Wills, Latin and the letter of the law
It happened again yesterday. A client, having given me perfectly straightforward will instructions to be translated by me into a perfectly straightforward will, telephoned me to ask why I’d felt the need to send him a six-page wodge of gobbledegook when all he wanted to do was leave his money to his wife or to his children if she’d died first. “What’s all this “to their issue” malarkey?” he quite fairly demanded to know.
Tags: Diamonds are forever – but what about the IHT?
The recent sad news of the death of Elizabeth Taylor – and the reports of her abundantly large estate, which due to her predilection for large diamonds and gold jewellery is reported to amount to around £350 million – has got me thinking about the inheritance tax bill that her estate will shortly be facing. Not quite the sort of sums that I handle in the day to day administration of estates, and certainly not the sort of sums I think about when I consider my own estate.