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ARTICLE · 11 APRIL 2014

Trusts For The Disabled

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The Finance Act 2006 made major changes to the way in which trusts are treated for inheritance tax purposes, and was designed to make most trusts less appealing.

United KingdomFamily and Matrimonial
Patricia Milner
Patricia Milner
Charlie Tee
Charlie Tee
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The Finance Act 2006 made major changes to the way in which trusts are treated for inheritance tax purposes, and was designed to make most trusts less appealing.

Trusts where the main beneficiary was a disabled person were exempt from the restrictions; the Government wished to encourage qualifying disabled beneficiaries and their families to use a trust structure to safeguard assets for the long term support of the disabled person. The trust could also be structured in such as way as to enjoy benefits for both income tax and capital gains tax. Trusts for the disabled have often been overlooked as a planning tool; they could suffer from some tax disadvantages and were complex to administer.

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