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Article: THE EXPERT: Variations on a joint tenancy theme.
- Article from:
- Money Marketing
- Article date:
- November 3, 2005
CopyrightCOPYRIGHT 2005 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Revenue has stated that deeds of variation can be used to redirect automatic inheritances of joint assets
The Civil Partnership Act 2004 was given Royal Assent on November 18, 2004 and will come into force on December 5, 2005. This will give same- sex couples, who register their relationship as a civil partnership, similar rights to married couples. In particular, the Government intends that transfers between civil partners will benefit from the same inheritance tax exemption enjoyed by married couples. The use of this exemption is particularly important in relation to any jointly- owned home.
Your clients can own property jointly in one of two ...