In an enquiry case you should call for a copy of the trust deed
if not already held and, if a trust of a policy (
IHTM20141) is involved, any associated
policy documents.
Termination of interest during lifetime
In the case of a termination of an interest in possession (
IHTM16091) you should request a copy of
the Deed of Release or other document terminating the interest in
possession, then review the documents to consider their effect for
IHT in the deceased’s lifetime and on death. If the trust was
set up by a will you should review it following the principles of
construction of wills. (
IHTM12052)
Lifetime transfer or release is a PET (
IHTM14024)
If the deceased made a failed PET involving a lifetime
transfer into settled property or a termination of an interest in
possession you should consider the appropriate investigation issues
(
IHTM14801) relating to lifetime
transfers.
Termination of interest on death
If the deceased had an interest in possession which
terminated on death you should investigate (
IHTM14051) the assets, liabilities and
any reliefs claimed on form IHT418 or IHT 100 (
IHTM10501) along the same lines as your
investigation of the deceased’s free estate.
