Continue reading "Usufructs: When is a settlement not a trust?"
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Usufructs: When is a settlement not a trust?
Marilyn McKeever examines the UK treatment of usufructs ‘In effect, a usufruct and bare ownership are equivalent to an interest in possession and absolute remainder and this is how HMRC will treat them.’ HMRC has confirmed its view of the inheritance tax status of a usufruct in its Trusts and Estates Newsletter for April 2013. …
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