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Settlor’s spouse

02 July 2013
Issue: 4409 / Categories: Forum & Feedback , Inheritance Tax

The potential beneficiaries of a discretionary settlement included the settlor’s husband. The husband died in 2008 and the settlor has not remarried

A discretionary settlement which was set up in 1993 by a married woman excluded her as a potential beneficiary under any circumstances the then “class of beneficiaries” being all her adult children. Her then husband was not excluded and in fact was added to the class of beneficiaries in 1994.

The husband died in 2008. No distributions have ever been made to any potential beneficiary other than her late husband and since his death no distributions have been made.

Since the death of my client’s husband I have continued to treat the settlement as settlor-interested on the basis that although the settlor has not remarried this remains a possibility. It would be possible to add any future husband to the class of beneficiaries and the settlor retains that right while she continues to live.

Consequently looking at section 1 of part...

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