Exploiting the vulnerable
On Tuesday 31st March I had a phone consultation with Townandcountrylaw.co.uk with a gentleman whose name began with C. After a brief conversation he exorted me to put my house in trust which he said would mean that it was immediately outside my estate for inheritance tax purposes for a fee of £2,950.
He followed this up with an email outlining the advantages of a family probate trust but interestingly he did not repeat his claim in writing of the house being immediately outside my estate for inheritance tax.
I replied, pointing out that any gifts or transfers into trust are not out of your estate until 7 years have elapsed. I also informed him that any amount over the nil rate band of £325,000, which my house would be, would immediately be subject to a lifetime charge of 20% as it is valued in excess of that figure and then a further 6% of the excess every 10 years.
Even if I survived 7 years it would fail for inheritiance tax purposes as it would be classed as a gift with reservation unless I had paid the market rent to the the trust.
Of course I have not heard from him since.








