Does it make any difference when doing a deed of variation for IHT purposes into a discretionary trust, whether the discretionary trust is contained in the same document as the deed of variation, or in a separate trust created after death into which the deed of variation redirects the assets?
Do they need to be signed on different days? I am going round in circles. My preference is to create a separate trust and for the deed of variation to simply redirect the beneficiary’s entitlement into the new trust. The beneficiaries of the trust will be the original beneficiary, spouse and issue. I understand the position is different for CGT and IT as it’s by way of variation and not from the original Will of the deceased.