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Time to review your inheritance and trust fund arrangements?

Budgets, IHT, Investments, Pensions, Property l

Mortgage calculator. House, noney and document.

Thousands of families who set up “discretionary trusts” so they could leave property to children in a tax-efficient manner will miss out on the Government’s valuable new inheritance tax allowance unless they make significant changes to their will, it has been warned.

Homes left to children through a discretionary trust will not benefit from the “family home allowance”, worth up to £350,000 per couple from 2020, because assets do not pass directly to children. Discretionary trusts – the most common form of trust – were widely used in the past to minimise inheritance tax (IHT).

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