NRBDT in H’s Will unadministered. Grant extracted personally in 2008, sole estate including half property circa £250k. It appears cash transferred to spouse.
Surviving spouse being one of the Trustees (plus 2 children) now has Alzheimer’s but still in the property at present. Care costs will shortly be an issue. If IHT is not a potential problem is there any reasons why an appointment could not now be made out to LIT for surviving spouse (Will allows)? IS there any downside to this?
I am mindful that we could appoint out to LIT (above) or children on sale of property but where does that leave us with the incapacitated spouse? LPAs in place (yet to see) appointing children but I feel COP application may have to be made?
Any input as always gratefully accepted.
Kathy Melkerts