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Nil Rate Band Legacy on Discretionary Trusts

Polish translation: czesc wolna od podatku spadku gdzie spadkoniercy nie maja ustalonej czesci spadkobrania powierniczeg

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Nil Rate Band Legacy on Discretionary Trusts
Polish translation:czesc wolna od podatku spadku gdzie spadkoniercy nie maja ustalonej czesci spadkobrania powierniczeg
Entered by: Izabela Klodzinska
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11:33 Feb 19, 2009
English to Polish translations [PRO]
Law/Patents - Law (general) / spadek
English term or phrase: Nil Rate Band Legacy on Discretionary Trusts
Testament z Anglii. Jedna z pozycji. Jaki jest polski odpowiednik? Dziękuję
Izabela Klodzinska
Poland
Local time: 04:28
czesc wolna od podatku spadku gdzie spadkoniercy nie maja ustalonej czesci spadkobrania powierniczeg
Explanation:
Inheritance tax: the changes to the nil
rate band
Before 9 October 2007 a person’s estate was entitled to an amount, known as the inheritance tax nil rate band, which was chargeable to inheritance tax at 0 per cent. Any amount above the nil rate band is chargeable at 40 per cent. (For 2007-08, the nil rate band is £300,000.) Transfers of assets between spouses and civil
===========
A discretionary trust is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. Where the discretionary trust is a testamentary trust, it is common for the settlor to leave a letter of wishes for the trustees to guide them as to the settlor's wishes in the exercise of their discretion.
Selected response from:

darotob
Local time: 21:28
Grading comment
Dziękuję
2 KudoZ points were awarded for this answer

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Summary of answers provided
4czesc wolna od podatku spadku gdzie spadkoniercy nie maja ustalonej czesci spadkobrania powierniczegdarotob


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
nil rate band legacy on discretionary trusts
czesc wolna od podatku spadku gdzie spadkoniercy nie maja ustalonej czesci spadkobrania powierniczeg


Explanation:
Inheritance tax: the changes to the nil
rate band
Before 9 October 2007 a person’s estate was entitled to an amount, known as the inheritance tax nil rate band, which was chargeable to inheritance tax at 0 per cent. Any amount above the nil rate band is chargeable at 40 per cent. (For 2007-08, the nil rate band is £300,000.) Transfers of assets between spouses and civil
===========
A discretionary trust is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. Where the discretionary trust is a testamentary trust, it is common for the settlor to leave a letter of wishes for the trustees to guide them as to the settlor's wishes in the exercise of their discretion.


darotob
Local time: 21:28
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 133
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