A Will Trust can allow a married couple or registered civil partners to carry out inheritance tax (IHT) planning without losing access to their capital or the income arising on it during their lifetimes. It should be understood that although the nil rate band of the first spouse/partner is used on first death, the IHT saving does not occur until the last spouse/partner dies.
It is particularly useful for couples/partners whose joint wealth exceeds two nil rate bands, or where there are children from previous relationships.
The value of the bond held within the trust, and any income taken from it, can fall as well as rise and your clients, or their beneficiaries, may get back less than your clients invest.
To find out more please talk to your usual Legal & General representative or email our technical team
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