Hello seeking help please.
Is it possible to split a discretionary Trust ( asset being a property, no income no outgoings )) into 2 Discretionary trusts ? We have a 10 year anniversary looming and wondering rather than paying the periodic Charge as Trust is well over NRB, if it would be possible to do this. There are a number of Trustees and Beneficiaries and would be more manageable in terms of each family sorting out their affairs in doing so also. This would leave the two trusts below the IHT and would then exempt them from charge ? alternatively giving half the asset directly to some of the beneficiaries and leaving the other half in Trust .?
Thank you anyone ?
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