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Trust Matters Discretionary Will Trust Arrangement
Applicable to all individuals and married couples

The benefits of placing assets into a Trust Matters Discretionary Will Trust on
1st and 2nd death are;

  • Inheritance Tax savings for your grandchildren

  • Assets are free from Inheritance Tax for up to 80 years

  • Control for the surviving spouse

  • Unrestricted access to the trust fund for the surviving spouse

  • Protection from the survivors means testing for later life care costs

  • Protection from divorce proceedings

  • Protection from creditor problems

  • Perpetuity clause in the event of the death of all beneficiaries

  • The ability to exclude specific individuals as beneficiaries

  • Wide trustee powers

An example;
Arthur and Joan Smith have a joint estate of £624,000, including the value of their home. They have made Wills leaving everything to each other and then to their children after second death.

Following the recent legislation contained in the Chancellor Alistair Darling's Pre-Budget Report on 9th October 2007, there should now be no Inheritance Tax (IHT) on first or second death in this scenario. On first appearance therefore, it would seem that there is no need for Arthur and Joan to take any action. However in doing nothing, they might simply be passing on the problem to the future generations as the diagram shows.

Based on the assumption that Arthur and Joan's children are both married and their respective estates are worth £624,000 each i.e. the prevailing nil rate band of £312,000 x 2, any inheritance that either of them receive from Arthur and Joan will simply increase the value of their estates and be liable to IHT on their demise if they don't spend it. Therefore the whole of Arthur and Joan's estate could be liable to IHT when it eventually passes to their grandchildren, a total IHT bill of £249,600!

In addition to this the whole of the estate will be subject to means testing in respect of the survivors later life care costs and once passed to the children will be considered part of their estate for any divorce action or bankruptcy proceedings they may be involved in.

If you would like to discuss our Will Trust further please
telephone us on 01727 737610 or email info@trustmatters.co.uk

The Trust Matters LATESS Trust

If your estate is valued in excess of £624,000, you should also seriously consider placing assets into Trust during your lifetime using the Trust Matters LATESS Trust. This can reduce / eliminate the Inheritance Tax liability on your estate. Please click here for details.

The LATESS arrangement will require a face-to-face meeting.

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Trust Matters Ltd, Hill House, 5 Holywell Hill, St Albans, Herts AL1 1EU
Telephone: 01727 737610 · Fax: 01727 737611 · e-mail: info@trustmatters.co.uk
Registered Office: Hill House, 5 Holywell Hill, St Albans, Herts AL1 1EU · Registered: Cardiff 2976527