ISAs and Dying

Death is a certainty; few people know what will happen to their Instagram account on death and even fewer what will happen to their ISA.

Each year ISAs have the maximum investment adjusted, but recently the main ISA has stuck to  £20,000. Many allow you to withdraw and then top up to the same limit. Help to Buy and Lifetime ISAs have strict maximum funding.

Little is known what happens on death because we all die at some point.

On death, your ISA can benefit from Additional Permitted Subscriptions which allow the survivor to pump money into your ISA for up to three years. 180 days following the estate being wound up, if you have stocks and shares ISA.

The money invested is still protected from all income and capital gains tax, so not too a shabby deal.

However, I’m still not too sure what will happen to my Facebook profile when I die.

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