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| *Ostroff, Fair and Company>>>United Kingdom Taxes |
How to avoid death duty on my estate? |
I plan to be frozen in liquid nitrogen. When I am frozen my estate is given to my childen. 7 years later I can be defrosted and allowed to die. As my death will be 7 years after the gift it should be free of tax. Will any tax inspector tell me if this is OK if they claim I will be dead when frozen then how will they explain it if I am brought back to life, can I claim the tax back? Sorry I must be getting old too ! Did you say you were already dead and wanted to be frozen. Must be going deaf ! I was studying your Avatar for signs one way or another. I agree with the other respondents your strategy does seem to be high risk. I might be easier to give some money and live for seven years. However, I can understand you want to enjoy all of it right up until the last minute. You could consider a family trust fund. Re the reclaiming of tax ( was that a double re ) it is your Estate that would be taxed not you as you would be presumed dead. Either way, I think you only have five years to make a claim for repayment of tax. Good Luck with the liquid nitrogen. If you are still alive after being frozen and thawed, then obviously, you have not died yet. The only problem is to survive the process, and for this, good luck to you. I think you'll count as dead when you're frozen. In fact I think you will be dead when frozen. So far no mammals have been successfully 'brought back to life' after having been frozen for a considerable time. It's a big risk to test your theory! Maybe give everything to your kids now. to answer the initial question - just dont die. hope that helps. :-) is something wrong with you? |
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