Commentary

I5.531 Transfers into an A&M trust

IHT, trusts and estates

I5.531 Transfers into an A&M trust

I5.531 Transfers into an A&M trust

Where an individual settled property after 17 March 1986 and before 22 March 2006 on an accumulation and maintenance (A&M) trust, the transfer of value was a potentially exempt transfer1 (PET — I3.311). Potential exemption was also available on the termination of an interest in possession in settled property during the life of the person entitled to it, after 16 March 1987 and before 22 March 2006, to be succeeded by A&M trusts (see I3.312). The availability of potential exemption depended only on whether the A&M rules applied immediately after the transfer, and was

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