Court Allows Trust Error to Be Corrected
5th July, 2019Mistakes do happen, and in some circumstances they can be rectified by the courts. In a recent case, the wife of a man who died in 2015 went to court after a mistake in dealing with a trust created under his will left a substantial potential Inheritance Tax (IHT) bill to pay. The man's estate had been passed into the trust and his wife was to receive the income from the trust for life. The trustees had the discretionary power to create trusts for the benefit of other beneficiaries and the...