AJ Bell launches discretionary loan trust in response to IHT impact

The launch follows its introduction of a discretionary gift trust and absolute gift trust, introduced in December for use with AJ Bell Investcentre general investment accounts (GIAs). The trust deeds were developed with Technical Connection. The discretionary loan trust differs from the other two trusts and can be used when a client wants to pass on future growth of an investment while keeping access to the original capital, AJ Bell outlined. A settlor lends money to the trust, meaning there is no initial gift and no reduction to the estate for IHT purposes, it noted. The loaned...