Commentary

I12.725 Bare trusts for minors

IHT, trusts and estates

I12.725 Bare trusts for minors

I12.725 Bare trusts for minors

An alternative to an accumulation and maintenance trust is a trust under which property is held on a bare trust for a minor beneficiary absolutely; although the trustees in practice retain the income until the beneficiary attains his majority and is thus able to give a good receipt, it is generally thought that he has an interest in possession (and in Scotland there is little doubt that he has) with the income so retained forming part of his estate if he dies during minority. For income tax purposes, the income is treated as his unless

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