Can loans be waived without using a solicitor

Can loans be waived without using a solicitor

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For a loan between individuals I am aware that if the individual waives a loan the waiver must be done by deed to be effective for IHT purposes.

Do the same rules apply when trustees waive loans. Contrariwise, what if an individual waives a loan to trustees. And what about companies.

Can a deed be completed without a solicitor and if so is it wise to do so. There is a sample Deed on pages 293/294 of Tolley's IHT 2012/13. Are there any special formalities to adhere to when preparing a deed. Does it need to be sealed and if so what is "sealing" all about.

When trustees make loans, which appears to be a common occurrence, what paperwork if any needs to be in place to verify that it is a loan and not a payment of income/capital. For many trusts no accounts are prepared and the only record of transactions are the bank statements and tax return entries.

Does anyone have good grip on this subject. If so can they point me and the readers in the right direction.

Thank you.

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