Front cover title goes here 2 Contents Introduction ������������������������������ 3 About us ��������������������������������� 4 What is a trust? ��������������������������� 5 Why use a trust for IHT planning? ���������� 5 Who is involved with a discounted gift trust – discretionary version? ����������� 6 Why use a discounted gift trust? ������������ 6 How a discretionary version of a discounted gift trust works ������������� 7 Where is my money invested? �������������� 9 Establishing your discount ���������������� 10 Taking withdrawals ���������������������� 12 Other considerations ��������������������� 14 What are the IHT charges associated with a discretionary trust? ������ 15 How the trust works in practice ������������ 16 The ‘discount letter’ explained ������������� 20 How do I set up the discounted gift trust – discretionary version? ���������� 21 How to set up the withdrawals ������������� 22 We regularly update our literature; your financial adviser can confirm that this March 2022 version is the latest by checking the literature library on our website platform.quilter.com