What
is a Discounted Gift Scheme?
This special kind of Trust, which is growing
increasingly popular, can not only provide you with
an lifetime income at retirement, but also protect your
estate from Inheritance
Tax (IHT).
It means an individual (known as the Settler) can effectively
make a lifetime gift, without attracting an immediate
IHT liability.
So as an IHT-friendly alternative to an Annuity,
the Discounted Gift Trust specifies
the level and regularity of cash payments you will receive
for the rest of your life. And although you can receive
no other benefits from the Trust other than these payments,
once in place for seven years there will be no tax to
pay on your death. It's still a tax -efficient option,
and can be set up on a single or joint-life basis.
Questions about the Discounted
Gift Trust
How do we know it works?
The Discounted Gift Trust uses principles that are accepted
by the Revenue; in other words this arrangement has
been tested, successfully, on many occasions.
What kind of immediate tax saving will I achieve?
This depends on several factors, but mainly on your
life expectancy and age at the time you set up the Trust.
We will ask you some questions about your health, and
depending on the answers, the Underwriters will offer
the potential discount on the investment. This is nothing
to worry about - the objective is to obtain an accurate
"snapshot" of your health at time of setting
up the Trust, so that there is evidence to present to
the Revenue later, should it be needed. Any potential
discount is proportionate on each person.
There may be occasions when a Discounted Gift
Trust is not the best solution for your particular
circumstances. As these are long-term decisions, you
should always seek qualified advice.
Get the Full Story
Robert Bruce Associates
can offer you specialist, helpful and clear advice on
Trusts of this type, to help you make an informed choice.
Our qualified advisors will ensure any decision is made
only once you have all the facts in hand, and only as
a result of establishing your personal wishes and criteria.
Why not call us today?
Get the most out of
your retirement.
Call us today
on: 0845 838 7377
|
