Trust registration - created by will in 2014

edgex

A trust was created by P's will in 2014, & will now be ending on the death of M.
P & M were married, & the only contents of the trust was the property of P, M having a beneficial interest till death. There have been no changes made to the trust or its contents.

This page suggests that the trust should have been registered.
But the trust pre-dates the legislation, & how would we have ever known it should be registered? Its not operated by a professional trustee.
https://www.gov.uk/hmrc-internal-manuals/trust-registration-service-manual/trsm23020


So, should it have been registered? Should it still be registered?

HobgoblinBT

Yes, it should have been registered.  

I had a similar situation following the death of my mother in 2015, leaving her half of the house in trust with my father owning the remaining half.  When I realised I needed to register the trust, a couple of years after the deadline, I registered the trust with no repercussions.

All you need to do at this stage is to register the trust.  Then on the death of your remaining parent and sale and or conveyance of the property, update the UK gov Trust register, pay any due taxes and wind up the trust.

Hope that helps.

edgex

HobgoblinBT said:

Yes, it should have been registered.  

I had a similar situation following the death of my mother in 2015, leaving her half of the house in trust with my father owning the remaining half.  When I realised I needed to register the trust, a couple of years after the deadline, I registered the trust with no repercussions.

All you need to do at this stage is to register the trust.  Then on the death of your remaining parent and sale and or conveyance of the property, update the UK gov Trust register, pay any due taxes and wind up the trust.

Hope that helps.

The remaining parent has died, December 2023.