disabled person's interest

disabled person's interest
England, Wales
A trust for the benefit of a disabled person which has special inheritance tax treatment (sections 89, 89A and 89B Inheritance Tax Act 1984 (IHTA 1984)).
It may be:
• A discretionary trust created after 9 March 1981 for a disabled person (sections 89 and 89B(1)(a), IHTA 1984).
• A discretionary trust created on or after 22 March 2006 by a person expecting to become a disabled person for himself (a "self-settlement") (sections 89A and 89B(1)(b), IHTA 1984).
• A trust created at any time in which a disabled person became entitled to an interest in possession (IIP) on or after 22 March 2006 (section 89B(1)(c), IHTA 1984).
• An IIP trust created on or after 22 March 2006 by a person expecting to become a disabled person for himself (section 89B(1)(d), IHTA 1984).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно сделать НИР?

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