Q. My father took out an equity release scheme on his home about 3 years ago. He has three children, myself and my two brothers. All three brothers were consulted at the time by the financial adviser who set this scheme up. It now appears that my younger brother, unbeknown to my elder brother and myself,… Read more »
Q. I am a member of the NHS Pension scheme, and I am 56. I intend to retire when I am 60, but I have a personal pension plan which I want to draw upon next year, when the rules governing personal pensions change. Is there anything I should be aware of? A. You could draw your… Read more »
Q. I have been told it is now possible to access my personal pension fund as a lump sum. I am 52 and could do with the cash. How do I go about this? A. There are two issues here. The Chancellor has announced a change in the rules from next April, which means that… Read more »
Q. I am considering giving a grandfather clock to my son. I inherited it from my father in 1985, when the probate value was £1000, but it has recently been valued at £20,000. What are the tax implications? As I am a widow, my only son will receive the rest of my estate in my will,… Read more »
Q. My husband and I set up a discretionary trust for our grandchildren to which we gave £100,000, five years ago. My husband has now died. What is the Inheritance Tax situation? A. Firstly, I am sorry to hear that your husband has passed away. As you set the trust up jointly, you were each treated… Read more »
