Do You Have A Favourite Type Of Bean?
ChatterBank1 min ago
Terms of a Will
Is it possible to will money and dictate how it shall be spent?
I don't want my daughter to have whatever I Ieave her, all in cash, so I'd like to tell my Executor to invest £X of it in her SIPP before passing her the balance.
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I don't want my daughter to have whatever I Ieave her, all in cash, so I'd like to tell my Executor to invest £X of it in her SIPP before passing her the balance.
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Not sure of the nswer to the main question, but I think so.
There are some practical issues though:
I'm not sure that the executor has the right to pay in to the SIPP of an adult without their consent
They may already have paid in their maximum contribution for that year - the bequest is then impossible
They can refuse the bequest - if you don't give any instruction it will then go to your residuary beneficiary - which may be your daughter.......
There are some practical issues though:
I'm not sure that the executor has the right to pay in to the SIPP of an adult without their consent
They may already have paid in their maximum contribution for that year - the bequest is then impossible
They can refuse the bequest - if you don't give any instruction it will then go to your residuary beneficiary - which may be your daughter.......
Only 1 answer
