Wills update

In this years Budget the Chancellor decided to raise some more money from Inheritance taxes by changing the rules on discretionary trusts. A discretionary trust in a will is a common way to try to mitigate inheritance tax and this will no longer work. The new law is effectively retrospective, as the date on which the will was made is irrelevant. If you have a will which has a discretionary trust, you need to update this right away.