Tax changes on trusts - do i have to appoint a new trustee?

[Voteslave]

Hi
My fathers will set up a trust to help avoid inheritance tax. I gather that the Finance Act 2006 brought in some new rules and i am being told by another trustee that "a new independent trustee MUST be appointed" as a result of the new legislation.

Is this true?

What impact do the new rules have on existing trusts?

Is there anywhere i can read up on the changes that explains things in very simple terms?

Thanks

[Lee Young]

There is a view that you should have an independent trustee, but there is nothing in the legislation that would suggest you MUST have one.