trust a for bereaved minor
England, Wales
A trust for the benefit of a person aged under 18, at least one of whose parents has died, and who will become absolutely entitled to the whole of the trust property on or before his 18th birthday (section 71A, Inheritance Tax Act 1984 (IHTA 1984)).
Trusts for bereaved minors have special treatment for inheritance tax (IHT) purposes, and were introduced in the Finance Act 2006 as a specific exemption to the relevant property regime (which was extended by the Act). Provided certain conditions are met, there are no IHT charges where:
• The bereaved minor becomes absolutely entitled to the trust property on or before his 18th birthday.
• Trust property is applied for the maintenance of the bereaved minor.
• The bereaved minor dies before reaching 18.
To qualify as a trust for bereaved minors, the trust must be created in one of three ways:
• By the will of one of the bereaved minor's parents.
• Under the intestacy rules.
• Under the Criminal Injuries Compensation Scheme.
(Sections 71A and 71C, IHTA 1984.)
A trust which qualifies as a disabled person's interest cannot be a trust for a bereaved minor.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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