释义 |
18–25 trust A trust established for the benefit of a young person, who becomes absolutely entitled to the trust property on or before his 25th birthday. An 18–25 trust can now only be created by the will of the young person’s parent or step-parent (until April 2008 it could also be created by converting an existing discretionary trust). The trust is charged to inheritance tax (i) on settlement; (ii) when any distribution is made to the beneficiary, he or she being over 18 years old; and (iii) when the beneficiary becomes absolutely entitled, he or she being over 18 years old. |