in your trust and estate planning business
DISCOUNTED GIFT TRUSTS WITH TRANSACT
Create and manage client trusts with ease on Transact
In recent years there has been a growing focus within the financial planning industry on increasing engagement in, and reducing barriers to, wealth and intergenerational financial planning.
The use of trusts can play a key role in wealth and tax planning for your clients, offering solutions to help ensure they, and their families, do not pay more tax than is required.
Trusts can help you:
- Provide a number of benefits for your clients including bloodline protection and tax efficiency.
- Secure long-standing relationships with your clients.
- Deliver a comprehensive, long-term financial planning strategy for your clients.
The Transact Discounted Gift Trust
Where your clients may be looking to set aside capital for future generations, but also receive fixed regular payments in their lifetime, a Transact Discounted Gift Trust (DGT) may be a tax efficient solution to help them achieve this. We have introduced:
Underwriting with MorganAsh
- If you are obtaining underwriting with Transact’s assistance, we now use an online system provided by MorganAsh Limited.
- MorganAsh’s online portal allows you to apply, manage and track the progress of individual underwriting cases.
- You and your client can choose from three methods for obtaining your clients medical and lifestyle information – on paper, online or via a confidential telephone interview conducted by MorganAsh.
- Transact will continue to meet the cost of initial underwriting, saving your client an estimated £180.00 in each case.*
- This step-by-step DGT application process is a quick guide on how to apply for and obtain underwriting for a Transact DGT.
- For full details on the Transact DGT application and underwriting process, please see the DGT Adviser Guidance Notes on Transact Online under Information > Trust Documents.
Updated tools and guidance
- A suite of new and updated materials has been created to provide you with support at every stage of the DGT process.
- Materials include a new DGT discount rate calculator, new guide for clients and revised adviser guides, as well as a DGT application coversheet. This will help ensure you provide all of the necessary documentation and information for your client’s application.
- Our updated trust deeds now also include handy completion guidelines in the margins.
- All of the DGT tools and guidance can be found on Transact Online under Information > Trust Documents.
These changes are designed to help speed up and improve your experience of creating and managing DGTs with Transact.
If you have any questions, please contact Sales Support or your regional Client Services Team.
Client Service Team
*Transact will meet the cost of initial underwriting (excluding the cost of any additional examinations or reports that may be required) for all new DGT applications, saving your client an estimated £180.00 in each case. In the [unlikely] event a specialist or additional medical report is required, your client may be required to meet the costs of obtaining that additional report.