Angela and Barry, both in their late sixties, recently got married. Angela is wealthy and has a large portfolio of investments and real estate, with
Angela and Barry, both in their late sixties, recently got married. Angela is wealthy and has a large portfolio of investments and real estate, with significant accrued gains. On her death, Angela wants to ensure a comfortable lifestyle for Barry and she also wants to protect the balance of her childrens inheritance in the event that Barry remarries. In order to achieve these objectives and minimize tax on her death, Angela should leave her estate to Barry: a. and the children in trust, with access to income and capital available to all beneficiaries on her death. b. In trust, and in the event of his remarriage, trust assets would be distributed to her children. c. In trusts, with access to only trust income for him, and on his death, trust capital would be distributed to her children. d. In trust, with access to only trust income for him and, if required, for her children, and on his death, trust capital would be distributed to her children.
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