Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Role of the tax adviser in will drafting

121280
Working together

Key points

  • In Hall the tribunal decided an occupying beneficiary had not enjoyed an interest in possession.
  • When drafting wills it is important to consider the future administration of the estate.
  • The potential impact of inheritance tax should be considered.

A recent decision in the First-tier Tribunal N Hall and another (as trustees of Carolina Raboni deceased) (TC8691) concerned whether an interest in possession arose in a ‘cash poor’ estate where a ‘companion’ occupied the house after the widow left her house to her five nieces and nephews. The deceased had granted her friend and companion the right to live in the house rent-free other than insurance and maintenance costs for the rest of his life. The property was not to be sold without his consent. The companion moved into the house after she died in 2004. It could be argued that with the value of the family home having...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

FIVE WAYS TO MAKE ACCOUNTS PRODUCTION AND TAX EASIER.
Download the exclusive Xero
free report here.

New queries
Please email any questions you might have
to: taxation@lexisnexis.co.uk.

back to top icon