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Discretionary Trust help
funkylady
Posts: 13 Forumite
in Cutting tax
Hi,
Could anyone explain in simple language what a discretionary trust is together what charges/tax are payable on it. This trust would not be for property.
My parents estate is well over £750,000 and they both have written in their wills that they are leaving to myself and my husband the nil band rate. The rest of the estate will be left to the surviving spouse.
Is it worth taking out a discretionary trust, and if so what would be the benefits?
Could anyone explain in simple language what a discretionary trust is together what charges/tax are payable on it. This trust would not be for property.
My parents estate is well over £750,000 and they both have written in their wills that they are leaving to myself and my husband the nil band rate. The rest of the estate will be left to the surviving spouse.
Is it worth taking out a discretionary trust, and if so what would be the benefits?
0
Comments
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Have a look here ( http://www.draftwill.co.uk ) for some useful info & guides for what you are interested in doing ... Their price is £79.95 for a PAIR of Discretionary Trust Wills
They also have a couple of handy downloadable guides here :-
http://www.draftwill.co.uk/pdfdocs/discretionary_trusts.pdf
&
http://www.draftwill.co.uk/pdfdocs/Making_a_Will_or_EPA.pdf
Cheers
BobDemocracy is two wolves and a lamb voting on what to have for lunch.
Liberty is a well-armed lamb contesting the vote.
- Benjamin Franklin0
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