No, as a will writer and estate planning practitioner, I can tell you that they can. Although you cannot set up a trust for the sole purpose of avoiding IHT. There are plenty of other reasons to do so, such as avoiding probate, protecting against later life remarriages, will challenges etc. but they must do it whilst they still have the mental capacity to do so. Hope this helps
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Really well explained
Thank you! Mike
Is it possible for a couple who are both 90 years old to set up a trust to avoid care home fees or will the local council see through this?
No, as a will writer and estate planning practitioner, I can tell you that they can. Although you cannot set up a trust for the sole purpose of avoiding IHT. There are plenty of other reasons to do so, such as avoiding probate, protecting against later life remarriages, will challenges etc. but they must do it whilst they still have the mental capacity to do so. Hope this helps
we are happy to help and advise you on this...schedule a free consultation with our team here: mpestateplanning.uk/book-a-consultation/