Standard Life in trust deadline warning

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Standard Life is warning some trust policyholders to keep an eye on upcoming deadlines following Inheritance Tax (IHT) changes announced in the 2006 Budget.

The firm says those with Interest in Possession (IIP) and Accumulation and Maintenance (A&M) trusts are most likely to be affected as they only have until 5 April to make certain changes. It follows a decision to allow trustees a two year transitional period to consider their options, which expires on 5 April. For the IIP trusts, Standard Life says trustees must consider who is to be the named beneficiary. Julie Hutchison, estate planning specialist at Standard Life Assurance, says: “There is now a three month window left for dealing with this. The great opportunity is for trusts wh...

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