accumulation and maintenance trust

a special type of discretionary trust under which income is accumulated for beneficiaries or used for their maintenance. Special relief is given for INHERITANCE TAX purposes if all the beneficiaries have a grandparent in common (or the trust can only exist for 25 years) and the beneficiaries will become entitled to the assets on or before reaching the age of 25, at which point the property will pass to them absolutely or they will obtain an INTEREST IN POSSESSION in it. Transfers of property into such a trust are POTENTIALLY EXEMPT TRANSFERS and no inheritance tax is chargeable during the existence of the trust or at the time that the beneficiary becomes entitled to the assets or to an interest in possession therein.

单词	accumulation and maintenance trust
释义	accumulation and maintenance trust accumulation and maintenance trust a special type of discretionary trust under which income is accumulated for beneficiaries or used for their maintenance. Special relief is given for INHERITANCE TAX purposes if all the beneficiaries have a grandparent in common (or the trust can only exist for 25 years) and the beneficiaries will become entitled to the assets on or before reaching the age of 25, at which point the property will pass to them absolutely or they will obtain an INTEREST IN POSSESSION in it. Transfers of property into such a trust are POTENTIALLY EXEMPT TRANSFERS and no inheritance tax is chargeable during the existence of the trust or at the time that the beneficiary becomes entitled to the assets or to an interest in possession therein.
随便看	national polish radio symphony orchestra national political awareness test national political congress of black women, inc. national polka festival national pollen and aerobiology research unit national pollutant discharge elimination system national pollutant discharge elimination system facility national pollutant discharge system national pollutant inventory national pollutant release inventory national pollution abatement fund national pollution discharge elimination national pollution discharge elimination system national pollution funds center national pollution prevention and toxics advisory committee national pollution prevention center national pollution prevention roundtable national polymer clay guild national polyp study national polytechnic college national polytechnic institute national polytechnic institute of cambodia national pond monitoring network national pony express association national pool lifeguard qualification