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Precatory Trust
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Similar to the discretionary will, this allows an expression of
wish in a will to be exercised as though it were written in the
will itself.
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For example, in writing a will, the testator may leave chattels
or a collection of items to one individual expressing the wish that
they be distributed fairly by that person among certain others.
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Inheritance Tax Act 1984, S143, makes clear that this does not
constitute a gift for IHT purposes if carried out within two years
of death.
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