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MATTHEW HUTTON considers what scope there may be for creating 'new' trusts (including will trusts) since 22 March 2006
KEY POINTS
- Creating trusts under the new regime
- Effective use of the nil-rate band
- When might one exceed the nil-rate band?
- IPDIs and their implications
- Trusts for bereaved minors and for 18 to 25 year olds
- Reviewing and planning with will trusts
My previous article ('Past present and future' - see Related Links) summarised the action to be considered in relation to especially interest in possession and accumulation and maintenance (A&M) structures as at 22 March 2006.
This article analyses what scope there might be for inheritance tax efficient creation of trusts now under the FA 2006 Sch 20 regime including the revised position on will trusts. (All statutory references are unless otherwise mentioned to IHTA 1984.)
Lifetime trusts
Consider trusts that make effective...
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