38 Flashcards
(1 cards)
1
Q
Ali and Mia arranged a long-term care bond under a discretionary trust to fund their potential long- term care costs. They should understand that:
A. the arrangement will be treated as a chargeable lifetime transfer.
B. the arrangement will be treated as a potentially exempt transfer.
C. the bond value will always be free of inheritance tax on death.
D. the bond value will always be subject to inheritance tax on death
A
A. the arrangement will be treated as a chargeable lifetime transfer.
