The following Private Client Q&A provides comprehensive and up to date legal information covering:
This Q&A covers the requirements for a potentially exempt transfer and, we have assumed that:
the oral declaration of trust was valid and took effect immediately
the document evidencing the declaration of trust, once executed, will be valid and binding and contain the same trusts as those declared by the oral declaration
Where a gift is made to any other person, outside a spouse or charity, or certain favoured classes of trust, it is a potentially exempt
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