Time running out for trust changes - Standard Life

Standard Life is warning investors that certain types of trust have just one year remaining for chan...

Standard Life is warning investors that certain types of trust have just one year remaining for changes to be made. Julie Hutchison, estate planning specialist at Standard Life Assurance, pointed out that last year’s Budget introduced significant changes to the IHT treatment of gifts to certain trusts. The two main types of trust affected were interest in possession trusts (IIP) and accumulation and maintenance trusts (A&M). “To allow the trustees of those trusts some time to consider their options, a two year transitional period was created which expires on 5 April 2008,” she said. “...