Dealing with Nil Rate Band Discretionary Trusts

These trusts are extremely useful for married couples and civil partners. Including one on the first death will reduce the estate of the survivor and shelter assets from care home fees etc while allowing the survivor access to funds in case of need. It will need to be registered on the Trust Register but, if unwanted on the first death, it can be wound up within 2 years of death removing the need for registration and without adverse IHT consequences

This session considers some of the issues you may encounter. It will consider:

• How to draft the gift of the nil rate sum.
• How to constitute the trust and the effect on the costs of running the trust.
• How the trustees exercise their powers.

Who is this for?

This webinar is for solicitors who need to advise clients on the creation, management, and tax implications of trusts.

Level of expertise:

This webinar is suitable for all levels

Learning Objectives:

• Advise clients on the advantages and disadvantages of such trusts, and
• Matters the trustees need to keep in mind when running the trust