Commentary

I5.133 Definition of 'trustee' for IHT

IHT, trusts and estates

I5.133 Definition of 'trustee' for IHT

I5.133 Definition of 'trustee' for IHT

The meaning of 'trustee' is expressly widened for IHT purposes to also include any person in whom the settled property or its management is for the time being vested1.

This provision would not be applicable in most cases, but circumstances where it might apply include the case of a lease for life, where the lessor will be treated as the trustee, and also settlements governed by Scottish or foreign law where there are no trustees.

Whether personal representatives are trustees for IHT purposes depends on whether any of the property in the deceased's estate held

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