New Trust Rules Changed Again

 Society Welcomes Finance Bill Changes; Major Concerns Remain
Law Society Press Release
8 June 2006
The Treasury succumbs to pressure on some of its new trust
taxation rules:
”The government has moved a long way from its original proposals
and that is very good news. Solicitors will welcome the fact that
many millions of their clients will not now have to go through the
expense and trouble of having their will reviewed. We are
particularly pleased that spouse exemption will no longer be lost,
something of concern to those in second marriages and those who
wish to comply with Sharia law. The government is also taking a
much more sensible line on will trusts vesting assets to children
between the ages of 18 and 25.”