Overview

18–25 trust


Show Summary Details

Quick Reference

A trust established for the benefit of a young person, who becomes absolutely entitled to the trust property on or before his or her 25th birthday. An 18-25 trust can now only be created by the will of the young person’s parent or step-parent (until April 2008 it could also be created by converting an existing accumulation and maintenance trust; see discretionary trust). The trust is charged to inheritance tax (i) on settlement; (ii) when any distribution is made to the beneficiary, he or she being over 18 years old; and (iii) when the beneficiary becomes absolutely entitled, he or she being over 18 years old.

Subjects: Financial Institutions and Services — Accounting.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content. subscribe or login to access all content.