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A daughter and her two minor children are the beneficiaries of a discretionary trust created from the residue of an estate with stock market investments valued at £400 000.
The trustees the daughter and her husband have purchased a new family home costing £750 000 owning a one-third share each personally with the trust owning the final one-third share. The husband intends to pay all the running costs.
After the children have left university in say 13 years’ time their intention is to sell the home and both children will then receive their one-sixth shares of the value.
In the meantime the balance of the funds will be reinvested in an investment bond.
No withdrawals are anticipated and the bond will eventually be assigned to the two children when the property is sold. T
he objectives are to reduce annual professional fees providing...
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