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2nd ISA on my wifes name
slimzee
Posts: 54 Forumite
Hi
I have a ISA on my name at the moment, and I am looking to get a 2n d ISA on my wifes name, which I think is perfectly normal thing to do.
When I max out my ISA quota in a year I would put the rest of my savings into my wifes ISA.
Is this all perfectly legal?
I have a ISA on my name at the moment, and I am looking to get a 2n d ISA on my wifes name, which I think is perfectly normal thing to do.
When I max out my ISA quota in a year I would put the rest of my savings into my wifes ISA.
Is this all perfectly legal?
0
Comments
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It's legal, assuming she hasn't already used her ISA allowance - but once you've done it, those savings would be hers, not yours. Effectively you'd have just made a gift of that money to your wife.
However, if you ever split up and end up in a courtroom dividing your marital assets, then the ISA savings will count as marital assets regardless of whether they're in your name or hers.0 -
Can`t see a problem with that ive done it before, along with many others I would think.0
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