How IPDI IIP Trusts Can Ensure Estate Distribution Is Correct Flashcards
1
Q
How IPDI IIP Trusts Can Ensure Estate Distribution Is Correct
A
- June can be nominated as the life tenant
- ensuring she has life interest in Davids estate
- changing the property to tenants in common can be included in IPDI
- Karen can be nominated as the remainderman
- ensuring on June’s death she receives the assets outright
- on Davids death his assets pass into the IPDI IIP trust IHT Free using the interspousal exemption
- when June dies the IPDI is included in her estate
- allowing the RNRB to be used
- as property to Davids daughter (Karen)
- estate can also use the inherited RNRB
- to help offset the IHT liability
- IPDIs do not incur any exit or periodic charges
