Severance of Joint Tenancy

For couples that own property: A classic inheritance tax planning strategy for your property and an indirect way to also protect from care fees means testing.

What Do I Need To Complete and Return?

DOWNLOAD: Will Application Form then complete and return to us.

What Do I Get For My Money? Read/See:

Sample Severance of Joint Tenancy Deed, Land Registry Form and Will with Life Interest Trust

Severance of Joint Tenancy to Tenants in Common: For couples, most property is owned as 'joint tenants' i.e. you jointly own the whole property. If one dies, the survivor already does and instantly owns the whole property anyway. By changing the way a couple owns the property to 'tenants in common' (imagine a 'red line' down the middle of the property, you own your half and your partner owns the other half), it enables you on 1st death to place your share of the property in trust (using your Will) for the benefit of other loved ones e.g. children.

Lifetime Interest In Property Trust: Your surviving partner (and any other people you designate) can continue to live in the WHOLE property (and indeed move home if they wish) but other loved ones own the deceased's half. Upon second death the whole property is passed to beneficiaries. This means that part of the property does not count towards the 2nd death inheritance tax liabilities and indeed cannot be included in any means test for care. We will also draft the most suitable Life Interest Trust wording and any Discretionary or Nil Rate Band Will Trust wordings to meet your needs within your Will.

Will Clarity Statement: We will also draft, certify and sign a separate Clarity Statement, where applicable, in case of dispute or your Will being contested if you have made reservations or exclusions in your Will or have given control to another Trustee on behalf of some or all beneficiaries under a Discretionary trust.

What we do:

Draft a Severance of Joint Tenancy Deed to establish 'Tenants in Common' that you both sign
Complete Land Registry forms to change land ownership title to 'Tenants in Common' and send the completed forms together with the Severance Deed to the Land Registry to be registered.
Draft Two 'Advanced' Wills, one for each of you including your normal Will and Trust requirements but in addition include a Lifetime Interest In Property Trust.

NOTE: To qualify for this, you should be mortgage free i.e. own your home outright.

Wills and Will writing services are not currently regulated by the Law Society, or the Financial Conduct Authority, or any other regulatory body. That said, as part of us qualifying as Chartered Insurers and then Chartered Financial Planners (both 1st Class Honours Degree standard) under the Royal Charter granted by King George V on 17 January, 1912 and also becoming Fellows of the Personal Financial Society, we studied and passed the Chartered Insurance Institute’s advanced modules in English Law, Property and Pecuniary Insurance Law, Life Insurance Law, Pensions Law and Taxation and Trust Law (each module at ‘A’ level standard) as well as having full, professional indemnity insurance cover of £1,850,000 to protect both you our clients as well as ourselves.

This service is subject to VAT and fees quoted include VAT

Pricing / Purchase Options

1. Non Face to Face Paid Upfront
25% Discount

£1,597.19

2. Non Face to Face Paid On Completion
15% Discount

£1,810.15

3. Face to Face Paid Upfront
10% Discount

£1,916.63

4. Face to Face Paid On Completion
Standard Fee

£2,129.59

Get A Quote

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Immediate Reduction of Estate for Inheritance Tax via a Discounted Gift Trust Lump Sum Investment Portfolio for UK Residents.

An 'off the shelf', packaged lump sum investment via a Discounted Gift Trust using Insurance Investment Bonds to reduce its value IMMEDIATELY for inheritance tax.

Immediate Estate Reduction: For example, you decide to invest £100,000 today. The immediately value for inheritance tax could be as low as e.g. £50,000 depending upon your age, the younger you are, the bigger the discount. Even though for inheritance tax estate valuation purposes, it is valued at (at a discount) of £50,000, the real value on day 1 of the investment that beneficiaries will receive is still £100,000. It has not lost investment value, its has solely been reclassified as a 'discounted gift trust' meaning that the value of the gift for inheritance tax purposes and calculation is £50,000.

7 Year Rule: Totally outside your estate for inheritance tax purposes after 7 years.

This is a legitimate investment in trust approved by HMRC. You can still access the investment for a regular 'income' but you lose access to the original capital as this is in trust for loved ones.

We will conduct independent, unbiased, in depth research, advice and analysis to construct an investment portfolio (UK regulated investment plans only) on your given income/growth profile and other requirements including the settlement into a discounted gift trust. It will include research and a full written suitability report on suggested investment portfolio including

Product type recommendations and suggested amounts for each product
Named Investment provider recommendations as well as fund sector and specific investment fund recommendations in line with your attitude towards risk
Application forms will be handled by us although all investment monies will paid direct to the investment company
We do not handle client investment money and will only accept money payable for our agreed advice fee
VAT free as majority of works are for intermediation on regulated products.

Fees are made up of two parts to make up the total fee:

Fixed Fee Element - this is a fixed, flat fee per investment portfolio, whether you have £30,000, £50,000, £100,000 or £1,000,000 to invest, the same 'timed work' and analysis is required. Up to 25% discounts apply when selecting Non Face to Face/Remote services and/or Paid Upfront.
% Risk Fee Element – this is a 'one off' fee based upon the value of the investment. It is representative of the works involved to complete the portfolio. In short the larger the portfolio, the more investment products, application forms and funds we may recommend for spread, checking, chasing contract documents and unit statements plus the liability that we take on as advisers and also, the fees that we pay to insurers, ombudsman levies and regulator levies that are based upon the volumes of work that we do. E.g. the works and liability we take on for a £50,000 investment is much lower than for a £200,000 investment, hence a proportionate charge for this.
These are 'ONE OFF' fees. There is NO ONGOING % adviser charge paid to us, unlike many other advisers who take an ongoing % each year meaning more of your investment and growth stays in your fund.

Pricing / Purchase Options

1. Non Face to Face Paid Upfront
25% Discount Part 1 Fee

Part 1 : Fixed Fee Element (Upfront) - £1,547.29
Part 2 : % Risk Fee Element (Upfront) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

2. Non Face to Face Paid On Completion
15% Discount Part 1 Fee

Part 1 : Fixed Fee Element (Completion) - £1,753.59
Part 2 : % Risk Fee Element (Completion) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

3. Face to Face Paid Upfront
10% Discount Part 1 Fee

Part 1 : Fixed Fee Element (Upfront) - £1,856.74
Part 2 : % Risk Fee Element (Upfront) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

4. Face to Face Paid On Completion
Standard Fee

Part 1 : Fixed Fee Element (Completion) - £2,063.05
Part 2 : % Risk Fee Element (Completion) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

More Info Get A Quote

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Growth Rule: 100% of all growth is outside your estate for inheritance tax purposes immediately. You do not lose access to your original capital.

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Product type recommendations and suggested amounts for each product
Named Investment provider recommendations as well as fund sector and specific investment fund recommendations in line with your attitude towards risk
Application forms will be handled by us although all investment monies will paid direct to the investment company
We do not handle client investment money and will only accept money payable for our agreed advice fee
VAT free as majority of works are for intermediation on regulated products.

Fees are made up of two parts to make up the total fee:

Fixed Fee Element - this is a fixed, flat fee per investment portfolio, whether you have £30,000, £50,000, £100,000 or £1,000,000 to invest, the same 'timed work' and analysis is required. Up to 25% discounts apply when selecting Non Face to Face/Remote services and/or Paid Upfront.
% Risk Fee Element – this is a 'one off' fee based upon the value of the investment. It is representative of the works involved to complete the portfolio. In short the larger the portfolio, the more investment products, application forms and funds we may recommend for spread, checking, chasing contract documents and unit statements plus the liability that we take on as advisers and also, the fees that we pay to insurers, ombudsman levies and regulator levies that are based upon the volumes of work that we do. E.g. the works and liability we take on for a £50,000 investment is much lower than for a £200,000 investment, hence a proportionate charge for this.
These are 'ONE OFF' fees. There is NO ONGOING % adviser charge paid to us, unlike many other advisers who take an ongoing % each year meaning more of your investment and growth stays in your fund.

Pricing / Purchase Options

1. Non Face to Face Paid Upfront
25% Discount Part 1 Fee

Part 1 : Fixed Fee Element (Upfront) - £1,547.29
Part 2 : % Risk Fee Element (Upfront) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

2. Non Face to Face Paid On Completion
15% Discount Part 1 Fee

Part 1 : Fixed Fee Element (Completion) - £1,753.59
Part 2 : % Risk Fee Element (Completion) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

3. Face to Face Paid Upfront
10% Discount Part 1 Fee

Part 1 : Fixed Fee Element (Upfront) - £1,856.74
Part 2 : % Risk Fee Element (Upfront) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

4. Face to Face Paid On Completion
Standard Fee

Part 1 : Fixed Fee Element (Completion) - £2,063.05
Part 2 : % Risk Fee Element (Completion) - 0.75% of Lump Sum To Be Invested (£) e.g. 30,000

More Info Get A Quote

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