I5.545 Successive A&M trusts

IHT, trusts and estates

I5.545 Successive A&M trusts

I5.545 Successive A&M trusts

IHTA 1984, s 71 imposes an IHT charge on settled property ceasing to be within its provisions (I5.502), but there is no IHT charge where a set of trusts satisfying the capital and income conditions in relation to one set of 'beneficiaries' gives way to trusts satisfying those conditions in relation to another set of 'beneficiaries'.

Some of the circumstances in which this may happen are described in the examples below.

Example 1

A&M trusts of the income extend beyond the age of 18, and a beneficiary resettles his interest on new A&M trusts for eg his own children

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