mikomi Posted March 16, 2008 Posted March 16, 2008 A relative of mine recently passed away he has a ISA saving cert, can his wife transfer the ISA over to her name or does she have to cash the ISA .She already has two Isa's in her name.
andyofborg Posted March 16, 2008 Posted March 16, 2008 A relative of mine recently passed away he has a ISA saving cert, can his wife transfer the ISA over to her name or does she have to cash the ISA .She already has two Isa's in her name. i believe that the isa will lose its tax exempt status from the date of death. she needs to speak to the executor of the will and/or the company holding the isa. the isa itself will form part of the estate and so will be distributed as specified in the deceased's will.
mikomi Posted March 16, 2008 Author Posted March 16, 2008 Thank's for the information,that's a big help.
Ginner Posted March 17, 2008 Posted March 17, 2008 Note, if the ISA is a Stocks & Shares type, then the holdings within it can be transferred into the benficiaries name(s) without the need to sell them. But as andyofborg said, the holdings will lose the tax free ISA wrapping and become a normal taxable investment.
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