boyfriday Posted March 25, 2014 Share Posted March 25, 2014 I suppose the next question is "Would" it be challenged..? That's a matter for the individual just as it would be in any legacy situation. Link to comment Share on other sites More sharing options...
ivanava Posted March 25, 2014 Share Posted March 25, 2014 You're a MAN ?! Now I wish I never gave you those sympathetic posts at all. Darn it. My naivety. Why do you assume that I am a man? Link to comment Share on other sites More sharing options...
salsafan Posted March 25, 2014 Share Posted March 25, 2014 Why do you assume that I am a man? Oh, I do apologise. (So where are my apologies then???) Link to comment Share on other sites More sharing options...
999tigger Posted March 25, 2014 Share Posted March 25, 2014 (edited) Oooh, I see. That is so smart. I thank you for this information. This is so true. I also read the other day that King George created a trust for the current Queen and her family too. Now I understand it all. It makes sense. So future generation can live off the trust, and therefore be okay, and stability will once come again to the UK. Hurrah. Hurrah. Do you also mean that then, the economic climates won't be that affected internally because of such strong estates too ? That makes sense too. Thank you so much for clarifying. That is so helpful. You're so smart. Trusts are created for various reasons. Mostly its do do with tax planning and the fact that property can be controlled by persons other than the people who it might be intended to benefit. Thye can also outlive any one person as you appoint tryustees, who cna be replaced or retire over time. An example might be adults holding property on trust for children until they come of age i.e Michale Jacksons kids Another example might be some Lord who would put the stately home in trust,but was kept going for whoever had the title and was passed down the generations. The biggest risk to an estate is that one indvidual sells or fritters it away. A trust means someone else has the responsibility to make sure property is used only for the purposes it was originally intended. That might mean distributing interest only. i.e the Bill and Melinda gates charitable Trust. Chairtable trusts get special tax treatment. Edited March 25, 2014 by 999tigger Link to comment Share on other sites More sharing options...
salsafan Posted March 25, 2014 Share Posted March 25, 2014 Even if Charles wanted to forego the job he's been waiting all his life for I don't think it would be easy for him to just "hand it on".... I really hope that he doesn't make many faux pas then. It would indeed be interesting to see a King in throne. ---------- Post added 25-03-2014 at 16:32 ---------- Trusts are created for various reasons. Mostly its do do with tax planning and the fact that property can be controlled by persons other than the people who it might be intended to benefit. An example might be adults holding property on trust for children until they come of age i.e Michale Jacksons kids Another example might be some Lord who would put the stately home in trust,but was kept going for whoever had the title and was passed down the generations. The biggest risk to an estate is that one indvidual sells or fritters it away. A trust means someone else has the responsibility to make sure property is used only for the purposes it was originally intended. That might mean distributing interest only. i.e the Bill and Melinda gates charitable Trust. Chairtable trusts get special tax treatment. Bill is a very smart man indeed. I was just checking out that charitable site the other day for another thread, but when you see the charities that they give to, they are mainly all within the US, which in a way boosts the US's economy, for one. Then another it is to mostly African countries, and not that much to foreign countries or any of the other more wealthy countries either. That's interesting isn't it ? At least the US is also stable too. Link to comment Share on other sites More sharing options...
999tigger Posted March 25, 2014 Share Posted March 25, 2014 Sorry 999tigger it appears that the information I am reading and the link I posted is the Citizens Information service Ireland and not citizens advice. I will do some more reading. No worries. Here is the link to CAB England. http://www.adviceguide.org.uk/england/relationships_e/relationships_death_and_wills_e/wills.htm You will note there are two situations. 1. There is no will = use rules on intestacy, which distributes according to set rules. 2. There is a will = distributing according to will, even if Sharia compliant, but subject to a challenge from dependants if no reaosnable financial provision is made. Situation 1 only applies if there is no will so cannot be effected by any sharia complaint will because by its very nature to be using the rules on intestacy means no will of whatever type exists. Link to comment Share on other sites More sharing options...
ivanava Posted March 25, 2014 Share Posted March 25, 2014 No worries. Here is the link to CAB England. http://www.adviceguide.org.uk/england/relationships_e/relationships_death_and_wills_e/wills.htm You will note there are two situations. 1. There is no will = use rules on intestacy, which distributes according to set rules. 2. There is a will = distributing according to will, even if Sharia compliant, but subject to a challenge from dependants if no reaosnable financial provision is made. Situation 1 only applies if there is no will so cannot be effected by any sharia complaint will because by its very nature to be using the rules on intestacy means no will of whatever type exists. I just found this which explains it in easy to understand English, surprising really when it come from the law society. The Law Society’s practice note on sharia-compliant wills Worth a read and I concede that I was wrong. The sad thing is that I had to prove that I was wrong instead of someone else proving that I was wrong. Link to comment Share on other sites More sharing options...
salsafan Posted March 25, 2014 Share Posted March 25, 2014 But the wife isnt entitled to anything. A spouse can give whatever is in their estate to whoever they like in whatever proportion they like. Thats the way English law works. That is what she is entitled to, whatever the testator says they are entitled to. nothing to do with equality and everything to do with having the right to give whatever you own to whoever you please. In some other countries the situation is different, but we arent talking about those. Don't tell your wife that ! ---------- Post added 25-03-2014 at 16:45 ---------- I just found this which explains it in easy to understand English, surprising really when it come from the law society. The Law Society’s practice note on sharia-compliant wills Worth a read and I concede that I was wrong. The sad thing is that I had to prove that I was wrong instead of someone else proving that I was wrong. Would you like a knuckle sandwich ? It's free. Link to comment Share on other sites More sharing options...
Cyclone Posted March 25, 2014 Share Posted March 25, 2014 I just found this which explains it in easy to understand English, surprising really when it come from the law society. The Law Society’s practice note on sharia-compliant wills Worth a read and I concede that I was wrong. The sad thing is that I had to prove that I was wrong instead of someone else proving that I was wrong. Isn't that the same link that BF posted several pages back? Link to comment Share on other sites More sharing options...
boyfriday Posted March 25, 2014 Share Posted March 25, 2014 Worth a read and I concede that I was wrong. Arse The sad thing is that I had to prove that I was wrong instead of someone else proving that I was wrong. cgk had already posted a link to the Law Society guidelines about 3000 posts ago, that's what most of us were discussing! Double arse :hihi: ---------- Post added 25-03-2014 at 16:52 ---------- Isn't that the same link that BF posted several pages back? I can't stake credit for it Cyclone, it was cgk as usual who provided the pertinent information. Link to comment Share on other sites More sharing options...
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