IHT205 Form - Assets in a Trust

xylophone

Right, but that wouldnt seem to be an issue here

,

I wasn't saying that it was an issue at this minute but pointing out the pitfall arising from having put the house(s) into trust with the primary purpose of avoiding care home fees.



Each parent was originally the sole legal and beneficial owner of his/her own property.

They set up the Trust and became the joint legal owners (as Trustees).

They were the sole Trustees.

They seem to have retained a right to benefit from the Trust?


Thus while a Trust would not normally form part of the estate of the deceased, in the circumstances set out above it might?

It seems to me that the OP should take expert advice before submitting his application for probate.

skipfeeney

Thanks for all the helpful replies.

Yes my father was the sole trustee, we have now got that amended with the help of the original company that setup the trust. I have spoken to them again today and it looks like I do need to fill in the IHT400.

That form was ok, until I then had to fill in IHT418, and now I am stuck on the following question!

Did the deceased have an interest in possession which was one of the following interests?

• An interest in possession that started before 22 March 2006
• and remained in existence until the date of death
• An immediate post-death interest
• A disabled person's interest
• A transitional serial interest

Having read, and re-read the notes on Trusts in the help guide I don't think the trust meets any of those. However i am seeking advice at the moment. I have been quoted 1500 to complete the IHT400, which I can understand that it takes time and expertise to complete but when stuck on a single part its seems expensive. I tried to speak to the government helpline today but was stuck waiting for 30mins, will try again tomorrow before making a decision and seek further quotes.

Thanks