A mum, dad and child hold hands as they walk along a beach

Playing it safe

Discounted Gift Schemes can seem an attractive option for investment, but there are pitfalls for the unwary, says Peter Nellist

Discounted gift schemes (DGSs) can be presented as a panacea for most IHT problems. They have three characteristics that appeal to many clients:

  • A gift is made and part of the value of that gift (for IHT purposes) immediately disappears (the discount).
  • The rest of the value disappears after seven years.
  • For up to 20 years (or earlier death) the client can still receive an income.

Read the full article at the Solicitors Journal website