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Farm Business
Tenant Farming, Subsidies, BPS & Legal Issues
Letter of wishes
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<blockquote data-quote="Exfarmer" data-source="post: 7127371" data-attributes="member: 1951"><p>I am writing this in the belief that I never met or knew your father, so please do not be offended in what I say.</p><p>i have met many people whohave been unhappy how wills turn out. So often parent promises all things to all siblings and others. I have seen it close up and distant. One day son, all this will be yours, except they forgot to mention, after you have bought out your siblings and cousin Jack. </p><p>it is though increasingly popular today for spouses to make mutual wills and then a letter of wishes to ask the survivor to make gifts to different people. This has huge tax advantages if the spouse survives a further 7 years.</p><p>sadly any arrangement can fall apart</p><p></p><p>The executor is in full control of the estate and legally may destroy any such letter if it takes them, the will of course is public property and any knowing destruction could lead to fraud charges</p></blockquote><p></p>
[QUOTE="Exfarmer, post: 7127371, member: 1951"] I am writing this in the belief that I never met or knew your father, so please do not be offended in what I say. i have met many people whohave been unhappy how wills turn out. So often parent promises all things to all siblings and others. I have seen it close up and distant. One day son, all this will be yours, except they forgot to mention, after you have bought out your siblings and cousin Jack. it is though increasingly popular today for spouses to make mutual wills and then a letter of wishes to ask the survivor to make gifts to different people. This has huge tax advantages if the spouse survives a further 7 years. sadly any arrangement can fall apart The executor is in full control of the estate and legally may destroy any such letter if it takes them, the will of course is public property and any knowing destruction could lead to fraud charges [/QUOTE]
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Farm Business
Tenant Farming, Subsidies, BPS & Legal Issues
Letter of wishes
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