@neo123
I am useless to you in respect of the questions you ask, but I hope it's ok to express my sympathies to you, your husband and children for the situation you find yourselves in, and equally my admiration for your apparent strength and clarity of thought in the face of it all.
The CAT one is interesting, from reading the various links, can my husband in theory avail of the 335k allowance now, and the children might additionally be able to avail of up to 335k each before the age of 18?
What are you trying to do here. Get 335K from parents to husband now, and later another gift to the children (I belive the limit is not 18 if the children are in full time education up the age of 25)
Just in case there's any confusion here, there is no opportunity for any individual to benefit more than once from any of the CAT group A/B/C exemption thresholds - they are a one-shot lifetime cumulative limit.
Final point/question on the CAT one for now, is let’s assume for simplicity for a second that all parties (my children and I will all inherit the maximum 335k or more in due course. In this case additional inheritance from the in laws/grandparents at some point won’t have an additional tax benefit (ignoring timing), as it will just mean the later inheritance would be taxable. What does not flow through is my husbands 335k allowance, so there would seem to be potential benefit in him receiving inheritance before his death.?please correct me if I’m misunderstanding something
@ClubMan thanks for that link. It’s exactly how I feel. Do you mind me asking how/where you trade these shares? So if I look at Davy for example it seems there’s a 0.5% annual charge, as well as transaction charges so could head towards 1% for fairly simple buy and hold strategy?
I use E*Trade because I had an account from an employee incentive scheme from years back. I just bought and hold - I don't really trade other than that. There are no ongoing charges. But using E*Trade may give rise to other potential complications:
Of course what most people don't appreciate is that if you are not a US citizen or US resident and you hold more than $60,000 in US equities then US estate taxes apply to transfers between spouses on death. That's right if you die your spouse or civil partner would have to pay US Estate taxes...
www.askaboutmoney.com
On the other hand this doesn't bother some (many?) people:
Of course what most people don't appreciate is that if you are not a US citizen or US resident and you hold more than $60,000 in US equities then US estate taxes apply to transfers between spouses on death. That's right if you die your spouse or civil partner would have to pay US Estate taxes...
I'm not a novice at the how investments operate and have spent my career in insurance companies pricing and structuring some of these products amongst other things
At some future date, would you mind giving us some more details on this (in a separate post) as it's an issue that comes up a lot on AAM and I don't think we've had someone who is/was involved in pricing some of these products and it would be geat to have that behind the scenes insight on costs/pricing/structure.