Trust used to settle business property then SELL to wife without immediate payment

On death of the late husband, his share of his business was transferred into his Will trust. The trust then sold the business shares to his surviving wife. BUT the trustees forgoed immediate payment for the sale of the business shares but reserve the right to call for payment at any time.

The sale price of the business shares was effectively the probate price of those business shares at the time which was £750,000.

Therefore, there is effectively a £750,000 debt against this estate which appears to be an effective way to mitigate an IHT liability, regardless of the fact that there is not a business clause in the Will.

There has been multiple x3 trusts put in place which isn’t referenced in the Will. The Will also including a potential beneficiary being another trust/s of which deceased client’s, spouse, children and remoter issue are beneficiaries.

The Will and trusts were created in August 2008.

I would really appreciate some thoughts on whether the existing planning appears to be appropriate or whether further planning is required.

Thanking you in anticipation!

Mohammad Uz-Zaman
Mr Friendly Finance Ltd