Commentary

I12.709 Melville trusts

IHT, trusts and estates

I12.709 Melville trusts

I12.709 Melville trusts

The original Melville scheme (a title derived from the decision in Melville v CIR1) involved the transfer into trust with the settlor having a power of appointment over the trust funds such that it could be said that his estate had not been reduced by the making of the settlement. That scheme was blocked by legislation which took settlement powers out of the scope of that which is comprised in an individual's estate for IHT purposes. Current Melville schemes therefore involve a settlement in which the settlor has a reversionary interest which cannot be defeated by any

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