tax on money and assets held in Discretionary Trust

by **teresani** on Sat Mar 12, 2011 9:04 pm

Hello Maths

Thank you for your interest: in reply

1: no surviving spouse all assets being left to brother (unmarried)\

2: Half house (as lived with brother) approx value 2000k ( for the half) and 80,000k cash

3: Dov being executed by brother owns other half of house
(not married) no children ---- beneficiaries being nephew and niece

any input greatly appreciated

by **Lee Young** on Sun Mar 13, 2011 9:27 pm

Sorry - your figures are confusing - is it £80,000 cash and a £200,000 property or a £2million property?

by **teresani** on Sun Mar 13, 2011 9:44 pm

oops sorry £2000 property!! --- all of which would be liable to IHT when passed down to next generation if no discretionary trust set up

thanks

by **teresani** on Sun Mar 13, 2011 9:47 pm

Sorrry !!! £200.000 --- bit late in the day for me!!

by **Lee Young** on Mon Mar 14, 2011 10:18 am

Is the toal estate therefore £280,000? If it is there will be no IHT as this is within the nil rate band....unless sizeable gifts have been made in the recent past?