About a year ago a question was posed as to whether a limited company could be a beneficiary in the context of a deed of variation, with the replies being in the affirmative.
On a similar point, if X dies leaving his property (half share) into a discretionary trust presumably the trustees could gift the property to New Co Ltd. The advantage being that the intended beneficiary would prefer the property to be held under a limited company structure than personally. (If he receives personally, then he would need to sell to the limited company which would trigger stamp duty.)
To complicate matters the beneficiary owns half the property personally, and therefore if the trustees gift their share in the property to New Co Ltd, the legal title would be with beneficiary but as to one half for himself and one half for New Co Ltd. Is this doable, or is there something obvious that I am missing?
I Will Solicitors Ltd