Probate and Will, Trust & Estate Disputes

Deed of Variation allowed client to be taxed at their children’s lower rates

Our client’s father-in-law died, leaving his estate to our client’s husband, who subsequently died. Our client was the beneficiary of both estates. Mark prepared a Deed of Variation relating to the estate of her father-in-law, the effect of which was to pass an investment property to our client’s adult children.  This will result in the rental income being taxed at the children’s lower rates, as well as reducing the Inheritance Tax on our client’s estate.

Mark is providing ongoing advice on a ‘normal expenditure out of income’ exemption claim and had the support of our Tax Advice Department who finalised the tax affairs of our client’s husband and prepared our client’s own tax returns.

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