Standard Life in trust deadline warning

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 where...