Deed of Trust

ianpalmer2007

In order to save tax I completed all the forms / paperwork so that for the last tax year 2017/18 my wife now “officially” has 99% of the rental income from a property we own and I have the remaining 1%.

Due to some unexpected heath problems - would it be wise to transfer my 1% to my wife to make administration easier for her in the event of me passing away or can I just leave it as it is and at the appropriate time let her fill in a SA for 100%?

Comms69

You're over thinking it. just leave it as is.

G_M

Leave it as it is.

Write a will.


edit: oh - and my commiserations. Been there, done that, and look at me now? You can guess but you can never know what the future will bring.....

ianpalmer2007

Many thanks indeed - I will leave it as suggested.

I do have a will leaving everything to my wife but just didn’t want her to have to start unraveling/ re-doing the “Deed of Trust” as I did it initially - got it accepted by HMRC - so I know she would struggle.

G_M

As the property is jointly owned, all she would need do is send to the Land Registry:


* form DJP

* death certificate or Grant of Probate


The LR would remove your name from the Title and she would become the sole registered owner. The Deed would then be irrelevant.