Commentary

I5.521 The 25-year condition

IHT, trusts and estates

I5.521 The 25-year condition

I5.521 The 25-year condition

In addition to satisfying the capital (original or substituted) and income conditions settled property must satisfy either the 25-year condition considered in this article or the common grandparent condition considered in I5.522. This sets a limit on how long a particular set of trusts can continue to be within the accumulation and maintenance (A&M) trust rules.

The 25-year condition is that not more than 25 years must have elapsed since the settlement was made or since the time (or latest time) when the capital and income conditions became satisfied with respect to the settled property1.

It is

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