| | Draft-Your-Will.com: Inheritance tax & Estate Planning strategies - UK (Site not responding. Last check: 2007-10-13) |
 | | This charge arises either when the trust comes to an end, when some of the property is distributed to beneficiaries, or when a beneficiary becomes entitled to an interest in possession in the property. |
 | | Such a trust is created if there is no current interest in possession in the property but some time n the future a beneficiary will become entitled to the property in its entirety or acquire and interest in the property, and the beneficiary must do so before the age of 25. |
 | | Trusts which tie up the assets until the age of 25 will now carry the initial 20% charge (if the value of the trust exceeds the nil rate band) and the ongoing 6% charge every ten years will not kick in until the child reaches the age of 18. |
| www.draft-your-will.com /Inheritance_Tax_Trusts.htm (1123 words) |