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Talking Trusts – Access v Control v IHT

Check your answers

1) The amount that should be included in Damien’s estate for IHT is…

a) £350,000

b) £175,000

c) £105,000

d) £195,000


2) Assuming there is no transferrable nil rate band to claim on Jennifer’s death, the following statement is correct…

a) As both gifts were made over 3 years ago they will both benefit from taper relief

b) Only Amy’s gift will get taper relief

c) Only Anthony’s gift will get taper relief

d) Neither gift will benefit from taper relief


3) The amount included in Esther’s estate for IHT is…

a) £500,000

b) £215,000

c) £285,000

d) £510,000


4) Mrs Wilkinson sets up a discretionary loan trust with a loan of £1,000,000. She decided to have any outstanding loan waived on her death. The following statement is correct in relation to the outstanding loan…

a) The loan will not form part of the estate for IHT when she dies

b) The loan will be included on the estate for IHT on death but will form part of the trust fund, distributed at the trustees’ discretion

c) The loan will not be included in the estate but will be distributed in accordance with Mrs Wilkinson’s Will

d) Mrs Wilkinson’s executors can use their discretion to decide who will benefit from the outstanding loan on Mrs Wilkinson’s death

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