Summary of the session
Bare and absolute trusts have always been part of the financial planning sphere and are perhaps seen as a relatively simple solution compared to Discretionary Trusts.
But they’re not as simple as you would imagine. For example, Bare Trusts created on death have their own particular nuances. And what happens when a beneficiary pre deceases a settlor? Where might they fit in an individual’s overall planning?
Learning outcomes
- The use of Absolute trusts in lifetime planning
- Absolute/Bare trusts created on death
- The income tax, CGT and IHT treatment of Bare/Absolute trusts
- Planning considerations when using Bare/Absolute trusts
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