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A couple are in the process of getting divorced. The minor children from the marriage are all living with one of the parties in the former matrimonial home.
The other party is to make provision for the education of the minor children by way of a trust – it is planned that any surplus left will revert to him.
We have only been asked to advise on the inheritance tax issues. As far as we can tell this would be covered by IHTA 1984 s 11 being a disposition for the maintenance of the transferor’s family – the children – and will not be a transfer for inheritance tax purposes provided the child can only benefit until 5 April following the attainment of aged 18 or if after attaining 18 when they cease to undergo full-time education.
Are matters really...
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