Trusts and Estates

Readers are doubtless familiar with the ‘timing trap’ in making distributions out of a discretionary Will trust. If the distribution is to be written back into the Will by s144 IHT act 1984, then of course it must be made within the two..

It is possible to draft a Will in such a way that a nil-rate band legacy is left on discretionary trusts, while the balance of the estate is left to a beneficiary who is exempt from IHT. Before the enhanced nil-rate band became available in 2008,..

Readers will doubtless recall the consultations, in recent years, in which the Revenue proposed changes in the method of calculating Inheritance Tax (IHT) charges on discretionary trusts and other ‘relevant property’ trusts (mainly..

When Government was consulting, during the Summer of 2014, on changes in the way IHT would be charged on the ten-year anniversary and exit charges, it seemed that the making of lifetime settlements would be strongly discouraged. In particular it..

In addition to the changes aimed at multiple settlements and the extension of s144 IHT Act 1984 to appointments or distributions made during the three months following the testator’s death, discussed in the Briefings above, there are some..