Advice for two beneficiaries of an estate and their creation of Life Interest Trusts

Mark Politz advised two beneficiaries of an estate and created two Life Interest Trusts for their respective families. The Trusts were set up in such a way as to avoid the Inheritance Tax regime applicable to other forms of Trust.  Creating the Trusts by Deed of Variation meant that the beneficiaries’ substantial inheritances would not form part of their own estates for Inheritance Tax purposes, but they still had the flexibility of being able to benefit from the assets in their Trust if required in the future.

Recognising the value of having a tax-efficient will, the clients wanted peace of mind that matters would be more straightforward for their own beneficiaries, so they asked Mark to prepare tax-efficient Wills.