View more on these topics

Zurich launches discretionary discounted gift trust

Zurich’s investment arm Sterling has launched a new trust giving investors more choice and flexibility on inheritance tax planning.

The group says the Sterling Discretionary Discounted Gift Trust (DDGT) has been introduced in response to recent changes in the taxation of some trusts.

Changes to the beneficiary can be made at any time during the trust period, and none of the trust fund is included in the any of the beneficiaries’ estates for IHT purposes.

The launch gives intermediaries and their clients two discounted gift trusts through Zurich and the new DDGT allows clients to change the beneficiary at any time.

The new trust contrasts with the existing Sterling discounted gift (Bare) trust which is for clients who want to make no changes to the beneficiaries but want to avoid the IHT treatment applying to discretionary trusts.

Zurich investment manager director Paul Wright says: “IHT planning is an increasingly important area of the financial planning process and the new trust has been designed to complement our existing range of trusts, providing advisers and their customers with a range of market leading solutions.”

Recommended

Network Data triples profits

Network Data has more than tripled profits for the first half of this year to £880,000 from £268,000 in the same period last year.

Burgess leads £20bn claim chase in PPI sector

The payment protection insurance market is braced for a surge of compensation claims after the long-expected emergence of claim firms specifically targeting the sector. Mortgage lenders in the sub-prime market are set to be the main focus for claim firms although loan providers, brokers and insurers will also be in line for attention in what […]

Jupiter boosts UK sales team

Jupiter Asset Management has appointed Alison Treharne and David Brown as sales managers on its UK team.Treharne joined Jupiter on October 3 as regional sales manager for the South West and Midlands. She joins from DWS where she was sales manager for the same areas and was previously a sales manager at Zurich and Fidelity.She […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment