and Paul’s reply: temporarily overlooked this point thanks
yes.
4 & 6. and Paul’s reply: I had thought the amount due to the Trustees was the amount they would have received if the trust had been properly constituted within 2 years, in this case £230,000 (plus interest unless waived) even though the nrb was £312,000 @ the date of death and that the husband’s estate could claim the unused percentage of the wife’s nrb - are the trustees now entitled to the whole £312,000 so there would no longer be any unused percentage? The half share of the house has now increased by £90,000.
6 & Paul’s reply: noted that the half share remains in wife’s estate and the cash (less liabilities paid by the husband) is treated as a debt in husband’s estate - due to the trust
Are you saying that doing this would result in 100% CGT uplift on the second death and if the property is sold for a gain following the second death only the husband’s share would get PPR?
The daughter has been appointed an attorney under a registered LPAPF - so presumably there would not be any problem in her dealing with the assent/iou on his behalf if he lacks capacity?
Paul/Malcolm: I note interest is limited to the last 6 years.