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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
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.... 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
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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
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Try deaths forum - or possibly 'cutting tax' forum0
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