TSEM6122 | Legal background to trusts & estates: no valid will - when beneficiary becomes absolutely entitled to trust assets

For capital gains tax purposes a beneficiary normally becomes absolutely entitled to assets as against the trustees on attaining age 18 or earlier marrying. However it could be earlier if the trustees exercise their statutory power of advancement (Section 32 Trustee Act 1925. There is a definition of ‘advancement’ in the glossary.)

If the trustees retain the assets subsequently it will be in a bare capacity (TSEM1030).

There is advice on ‘absolute entitlement’ for capital gains tax purposes at CG37000 onwards.