BEREAVED MINOR TRUST
14/04/2011
Many Wills drafted before 22 March 2006 tried to ensure that gifts for children and grandchildren met the conditions for an Accumulation & Maintenance trust to ensure that no inheritance tax charges arose on the distribution of capital to the young person when they reached the specified age, usually 25.
The FA 2006 prevented the creation of new Accumulation & Maintenance trusts and introduced the concept of a trust on death for the benefit of the deceased’s bereaved minor children.
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