Chris Thorpe outlines how discretionary trusts can be used to gift assets tax-free.
A trust is essentially an arrangement whereby the legal ownership is in the hands of one person, with beneficial ownership in the hands of another; the legal owner (the trustee) holds that asset as custodian for the beneficial owner (beneficiary).
What is a discretionary trust?
In the case of a discretionary trust, the discretionary trustee, as the name implies, has complete discretion as to the trust asset and any income arising therefrom; the
