Commentary

I12.1112 Generation skipping dispositions

IHT, trusts and estates

I12.1112 Generation skipping dispositions

I12.1112 Generation skipping dispositions

A particular use of a will trust is to provide generation-skipping dispositions. Suppose a testator, T, is making his will. He has an adult child, B, who has two children, M and N. If he gives the property to B, B can make potentially exempt transfers in favour of M and N, but under IHT there remain several good reasons why a 'generation skipping' disposition by T's will directly in favour of M and N could be an advantage. If M and N are minors, it will be an advantage if B is not the 'settlor'

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial