MSE News: New rules mean your ISA won't die with you (if you have a spouse): Autumn S

gadgetmind

le_loup wrote: »

As if ISAs for the non-OCDs amongst us were not complicated enough.

Anyone who doesn't use or understand ISA because they are "complicated" presumably doesn't drive a car, play a music instrument or take any interest in board, ball and card games for exactly the same reason.

le_loup

Maybe my post was crass too. I did not mean this as a male/female issue. I was referring to MY situation which may be similar to others.
My wife has skills and qualities that I could NEVER match, for example in producing works of art and caring for others. I just will never be able to do those things.
I believe (don't we all) that I have great skills in finance, so much so that I worked with money for 40 years and use these skills to enhance our income. Your contribution to this site shows that you are probably even more skilled and analytical than me.
So each human has a different skill set and what one finds easy, another finds a black art. May I venture that whilst you may know an immense amount about finance, you possibly know as little as me when it comes to understanding astro-physics and dark matter? I for example would NEVER be sufficiently interested or clever enough to do so ... even if the rest of my life depended upon it!
So getting back to the subject, I had hoped, when I first heard about the ISA changes, that I could leave my tax free income producing assets to my wife, to continue to generate a tax free income. I now know that she will have to work to sell and rebuy. As H-L said: it's clunky!

ColdIron

le_loup wrote: »

As if ISAs for the non-OCDs amongst us were not complicated enough.

I prefer the term CDO, it's much better ordered

le_loup

gadgetmind wrote: »

Anyone who doesn't use or understand ISA because they are "complicated" presumably doesn't drive a car, play a music instrument or take any interest in board, ball and card games for exactly the same reason.

erm, yes.
Someone who has a fascination with money, can't play a musical instrument, has no interest in board, ball or card games. You describe me perfectly.
I will never know the offside rule because I care not at all for football and never will. Does that make me a bad person? It does make me different. That's my point.

gadgetmind

le_loup wrote: »

.
I will never know the offside rule because I care not at all for football and never will.

I knew zero about football until I had to learn about its rules and rituals for a book that I'm writing. It still bores me to tears, but I do understand it.

Humans are very flexible and can learn to do pretty much anything once they stop complaining that "it's complicated" or they "don't understand it" and open a book.

le_loup

le_loup wrote: »

It would be far easier for the bereaved if the investment continued in the survivors name.

I see that common sense has prevailed.

http://citywire.co.uk/money/inheriting-isas-investments-will-not-have-to-be-sold-and-reinvested/a788143?re=31974&ea=210385&utm_source=BulkEmail_Money_Daily_Summary&utm_medium=BulkEmail_Money_Daily_Summary&utm_campaign=BulkEmail_Money_Daily_Summary


Well done Treasury.