We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Discretionary Trust
janeke
Posts: 100 Forumite
I don`t think this is the right place to post this query but I can`t find out where else to put it!
I am in the process of making a new will which will include a discretionary trust in favour of my children. I`m probably being a bit thick but I can`t find out exactly what they would need to do when the time comes to wind up the trust - i.e who do they have to inform?
Thanks
I am in the process of making a new will which will include a discretionary trust in favour of my children. I`m probably being a bit thick but I can`t find out exactly what they would need to do when the time comes to wind up the trust - i.e who do they have to inform?
Thanks
0
Comments
-
.... I`m probably being a bit thick but I can`t find out exactly what they would need to do when the time comes to wind up the trust - i.e who do they have to inform?...
The trustee.
Once they are eighteen they can just ask for the capital to be paid to them.
Not that I'm a lawyer you undestand.0 -
And the trustee will have to make his peace with HMRC - even if it turns out no tax is owing0
-
It's to be hoped you're using a solicitor, so do ask them to explain anything you don't understand!Signature removed for peace of mind0
-
Try deaths forum - or possibly 'cutting tax' forum0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards