ABSTRACT
For example, authority may be needed to use funds from the trust to maintain an infant beneficiary, an investment or the impact of a potential liability to taxation may have the effect of depreciating the trust assets if no action is taken. A partitioning of the trust property between the life tenant and remainderman may have the effect of avoiding inheritance tax if the life tenant survives for seven years or more, whereas, if no action is taken, the entire capital may suffer inheritance tax on the death of the life tenant and a second time on the death of the remainder.
