Aim:
Trusts rarely continue until the end of the perpetuity period or the end of the trust period. Practitioners are often asked whether a trust can be brought to an end early. In some cases, trusts end on the death of the life tenant where the remainder interests vest absolutely. The aim of this session is to remind practitioners of the possible risks to bear in mind when a trust is about to be wound up with suggestions as to how to avoid any traps
Outcome:
- Participants will be able to:
- Recognise potential risks on winding up a trust
- Effectively manage the closure of a trust
Agenda:
- Risks to avoid with good record keeping
- Preparation of accounts
- Trustees’ decision
- Documents required to transfer assets to beneficiaries
- Tax consequences
- Income tax
- IHT
- CGT
Sponsor
This podcast is sponsored by thewealthworks. Their comprehensive flexible Global Wealth Management Software easily adapts to meet the needs of law firms, accountants, family offices, trust companies, banks and other corporate trustees in the UK or across the globe.
