Thank you. Certainly his family believed he had done this in order to mitigate IHT and they were very surprised to find that it was taxable. As you say, the list of discretionary benefuciaries was in extremely small print on the form and one might think it had not been properly explained to him. The only thing that throws doubt on this is that we have the Settlor’s copy of the settlement deed and the accompanying notes, and the latter has a small paragraph stating that no saving of IHT will result, which has been circled by the Settlor with a question mark. From that I assume he must have questioned this and been satisfied with the answer he received. It certainly would be interesting to see the advice he was given.