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Legal Corner: How do Anniversary and Exit Charges apply to a FLIT?

Legal Corner: How do Anniversary and Exit Charges apply to a FLIT?

At WillPack we get a large number of technical queries from our partners. This means the team is often looking into very varied and interesting areas of law. In this new feature of the newsletter we will focus on some our more unique queries and pass that knowledge on to you! This week, we will … Read moreLegal Corner: How do Anniversary and Exit Charges apply to a FLIT?

Flexible Life Interest Trusts and the Residential Nil Rate Band

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Ever since the Residential Nil Rate Band (RNRB) was announced, one of our most common queries has been how it relates to Flexible Life Interest Trusts (FLITs). What are FLITs FLITs are essentially a life interest for a person (usually the surviving spouse), with an underlying discretionary trust that will arise when the surviving spouse … Read moreFlexible Life Interest Trusts and the Residential Nil Rate Band

Flexible Life Interest Trust

Flexible Life Interest Trust  Due to more complex estates and greater wealth, greater flexibility is essential to cope with any future changes to the family structure (such as new family members) and changes in the tax regime. The best way to gain the maximum flexibility is by the use of a Flexible Life Interest Trust … Read moreFlexible Life Interest Trust