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Discretionary Trusts and Tax - help please!
kelly-b_5
Posts: 1 Newbie
I'm in need of some help please... Sadly my father passed away recently and before he died he set-up a discretionary trust for the 'Death in Service' payout from his employer, and assigned my mother and me as trustees.
Can any one please point me in the direction of some good sites or companies so we can get financial advice? Initial things I am looking to find out are:
1. Once the employer has released the funds, do we start paying tax on the trust?
2. Do we need to 'disolve' the trust?
Very confused about what to do
- so any help would be greatly appreciated!
Can any one please point me in the direction of some good sites or companies so we can get financial advice? Initial things I am looking to find out are:
1. Once the employer has released the funds, do we start paying tax on the trust?
2. Do we need to 'disolve' the trust?
Very confused about what to do
- so any help would be greatly appreciated! 0
Comments
-
Hi Kelly
Sorry for the loss of your father.
Try reading up on trusts via HMRC's website - link here:
http://www.hmrc.gov.uk/trusts/index.htm"I have enough money to last me the rest of my life, unless I buy something"0
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