2 year discretionary trust will

[greecemad]

My wife and I have written a 2 year discretionary trust will with the surviving partner being a trustee along with our two children. The estate is left to the two children and grandchildren. The estate is below the £625,000 level for inheritance tax. We hold the house as tenants in common.
We would wish for half of the estate including half of the house to be held in trust from the time of first death.
The will includes provision for the trust.
Do the trustees have to register their holding of half of the house with the land registry?
Does the trust have to be registered with HM revenue & customs?
If there is no inheritance tax due are there any other taxes to pay?
What would be the position if the surviving partner had to be admitted to a care home?

Derek.

[maths]

Do the trustees have to register their holding of half of the house with the land registry

?

Yes.

Does the trust have to be registered with HM revenue & customs?

Yes.

If there is no inheritance tax due are there any other taxes to pay

?

On death no CGT.

What would be the position if the surviving partner had to be admitted to a care home

In principle the surviving spouse's 50% share in the house would be taken into account in assessing council contributions but not the 50% held in trust.