We are acting for a client who has 2 businesses, one attracting BPR and one which does not. He also owns a residence (amongst other things). He is unmarried but has a partner. We would usually pass the BPR assets into a Business Discretionary Trust so as to harness the relief and secure a lesser IHT bill on the second death should the business be sold prior to the second death. In this instance the client wants both businesses and his residence in a DT. Would you create a separate DT for the BPR assets or put everything in one? I am unsure on the tax implications of putting everything in one… practically I can see pros and cons for both 2 trusts/1 trust…
Thank you for any help you can give, it is much appreciated.