Wednesday 25 March 2009

Jade Goody & Inheritance Tax Planning: update

Yup, as I suspected, more or less confirmed in yesterday's Times:

It is thought that deals struck for Goody by Mr Clifford, which included television programmes, magazine interviews, and a publishing contract with HarperCollins, have contributed about £750,000 to a trust set up to provide for the children.

The rest of Goody’s estate, expected to be valued in excess of £1 million, is also thought to be in line to pass to her children. It is understood that she has not bequeathed anything of significant value to her husband or mother.

Mr Brazier [the father of Goody’s sons] has custody of the children and will provide for their upkeep, with the trust used to pay for schooling. The amount of money available could rise hugely if Goody’s book, a diary of her last days, sells well.

Danny Hayward, one of three trustees, who met Goody through his work as a photographer, said that he had been instructed to provide her children with "the best education money can buy".


You can bet your bottom dollar that her widower is at least nominally a beneficiary of those trusts though, or else the IHT-inter spouse exemption does not apply.

3 comments:

Lola said...

Well done her. I think it is absolutely marvellous that someone so short changed in the lottery of life at outset should come to realise where she had lost out and what she needed to do for her own children to ensure that they had better prospects.

Roger Thornhill said...

Marrying Jade is not the same as becoming legal guardian to her children.

Mark Wadsworth said...

RT, correct, The Times article says that "Mr Brazier [their natural father] has custody of the children".