Murphy sees future for DGTs under IHT regime

Professional Adviser
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Brian Murphy, senior financial planning manager at Axa Life, believes there is still a future for di...

Brian Murphy, senior financial planning manager at Axa Life, believes there is still a future for discretionary will trusts and discounted gift trusts (DGTs) under the new IHT legislation. The nil-rate band legislation introduced at the start of this tax year allows the transfer of any unused allowance on a person's death to the estate of their surviving spouse. The provisions apply to anyone who died after 9 October 2007, regardless of when their spouse died. The claim must be made within 24 months of the date of death, and no more than 100% of the nil-rate band will be available. Mu...

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