Continue reading "Estate planning: When severance goes wrong"
Kingston Smith were engaged to provide inheritance tax planning advice to Mr and Mrs Robin, who had terminal medical conditions, in early 2003. They wished to ensure that as much of their property should be available to support the survivor and, following the death of the survivor, their disabled daughter. Mr Chadda, who was a partner at Kingston Smith, discussed strategy at a meeting with Mr and Mrs Tobin based on utilising their inheritance tax nil rate bands, which would require them to make new wills and (in case of a beneficial joint tenancy) service of a notice of severance in rela...
The appellant (Mrs Quigley) appealed to Henderson J from an adjudication by HM Land Registry that the joint tenancy of her father (Mr Pilkington) and the respondent (Mrs Masterson) had not been severed prior to Mr Pilkington’s death on 20 March 2009.
Mr Pilkington and Mrs Masterson lived together between 1978 and 2001 but never married. They bought 173 North Street, Coventry (North Street) as joint tenants on 24 August 1992. Their relationship ended in 2001 and Mrs Masterson left North Street. In 2002, Mr Pilkington’s solicitor attempted to sever the joint tenancy. Th...
Continue reading "Joint Tenancies: Cutting ties"