We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
ILGs and inheritance
tigerspill
Posts: 889 Forumite
Sorry, another question with ILGs.
Obviously from a planning perspective, ILGs are best held to maturity.
If I held ILGs and died before maturity, can these ILGs be passed to my benefactors as ILGs or do they have to be sold (at whatever price on the sell day) before passing the cash on?
They will be in an ISA if that makes any difference.
Obviously from a planning perspective, ILGs are best held to maturity.
If I held ILGs and died before maturity, can these ILGs be passed to my benefactors as ILGs or do they have to be sold (at whatever price on the sell day) before passing the cash on?
They will be in an ISA if that makes any difference.
0
Comments
-
You need to look at how your ISA is treated, including ILGs: https://www.gov.uk/individual-savings-accounts/if-you-dietigerspill said:Sorry, another question with ILGs.
Obviously from a planning perspective, ILGs are best held to maturity.
If I held ILGs and died before maturity, can these ILGs be passed to my benefactors as ILGs or do they have to be sold (at whatever price on the sell day) before passing the cash on?
They will be in an ISA if that makes any difference.
Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
Thank you - very helpful. Looks like I am OK and the assets (in our case as we have ISAs with the same providers) can be transferred so no need to have a forced sale before maturity.Marcon said:
You need to look at how your ISA is treated, including ILGs: https://www.gov.uk/individual-savings-accounts/if-you-dietigerspill said:Sorry, another question with ILGs.
Obviously from a planning perspective, ILGs are best held to maturity.
If I held ILGs and died before maturity, can these ILGs be passed to my benefactors as ILGs or do they have to be sold (at whatever price on the sell day) before passing the cash on?
They will be in an ISA if that makes any difference.Stocks and shares ISAs
Your ISA provider can be instructed to either:
- sell the investments and pay the proceeds to the administrator or beneficiary of your estate
- transfer the investments to your surviving spouse’s or civil partner’s ISA - this is only possible if they have the same ISA provider as you
Check the terms and conditions of your ISA for details.
0 -
Some platforms were undervaluing ilgs for tfls calc purposes which is a negative for tfls, but if the same happened for iht it would be a win....just sayingI think....2
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.8K Banking & Borrowing
- 253.8K Reduce Debt & Boost Income
- 454.6K Spending & Discounts
- 245.8K Work, Benefits & Business
- 601.9K Mortgages, Homes & Bills
- 177.7K Life & Family
- 259.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards