Please help me with my IHT 205 FORM

GEZ

Termed as a family trust in the will, and my Father wants to protect him from any benefits stopping when he has the money received from his inheritance.
It is his wishes and we just need to realise it in a trust deed
THANKS GEZ

GEZ

Just sent off the papers to Probate Registry and did the digital details for probate online as suggested.
May I wish you all that helped and those who did not a Merry Christmas
GEZ

Yorkshireman99

GEZ wrote: »

Termed as a family trust in the will, and my Father wants to protect him from any benefits stopping when he has the money received from his inheritance.
It is his wishes and we just need to realise it in a trust deed
THANKS GEZ

Atrust is very unlikely to prevent the DSS treating the bequests as being exempt. Did you use a will company to get this setup?

Keep_pedalling

Yorkshireman99 wrote: »

Atrust is very unlikely to prevent the DSS treating the bequests as being exempt. Did you use a will company to get this setup?

It can if it is a vulnerable beneficiaries trust or disabled persons trust.

https://www.lawgazette.co.uk/legal-updates/disabled-peoples-trusts-and-inheritance/5042238.article

Yorkshireman99

Keep_pedalling wrote: »

It can if it is a vulnerable beneficiaries trust or disabled persons trust.

https://www.lawgazette.co.uk/legal-updates/disabled-peoples-trusts-and-inheritance/5042238.article

In some cases it will but as the article says it is neither simple or universal. A very specialist area so not nearly as generally useful as you glibly imply.

Keep_pedalling

Yorkshireman99 wrote: »

In some cases it will but as the article says it is neither simple or universal. A very specialist area so not nearly as generally useful as you glibly imply.

There was nothing glib about my reply.

Yorkshireman99

Keep_pedalling wrote: »

There was nothing glib about my reply.

I am sorry but rightly or wrongly I think the brevity of your reply implied that point was simple, had universal application, and was easy to understand. It simply is not as the quote you cited made it clear. I don’t believe replies like that serve any useful purpose to people who are confused by the whole topic. Indeed they can seriously mislead. Whilst I am usually in favour of brevity if possible it is important to not make it appear a case is open and shut when it is not. We all get it wrong sometimes because we understand a subject more than novices and I freely admit to having done so myself despite trying not to.

GEZ

If anyone has had experience of setting up such a Trust it would be helpful.
I am of the mind that although I am not for such an example in which someone can avoid benefits, I am only supporting this as it was what my father wanted.
As mentioned in my last reply this is all new to me and will if not followed through will weigh on my conscience

Yorkshireman99

GEZ wrote: »

If anyone has had experience of setting up such a Trust it would be helpful.
I am of the mind that although I am not for such an example in which someone can avoid benefits, I am only supporting this as it was what my father wanted.
As mentioned in my last reply this is all new to me and will if not followed through will weigh on my conscience

The only sensible wayto do it is to consult a solicitor who is a trust specialist and a STEP member. Advice other than this will not get you a valid answer. It is emphatically NOT a DIY task.

GEZ

Hello Money savers
I have received Grant OF Probate and using it in the next weeks to bring in the assets. Just looking ahead can any one advise me on the scenario if one of the residuary beneficiary wants an interim payment from the estate fund. This is in terms of using form R185 Estate Accounts and how to enter the income from the estate and distributing for example,£5000 as part payment from his share of the whole of the remaining residual account .
I do hope this makes sense and thankyou for reading.

GEZ