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Currently we are not able to show some detailed information for Retirement Account performance for clients. This will be restored on 13 December 2021. We're sorry for any inconvenience this causes.

Future-proofing your legacy planning

Check your answers

1. How do you set up a loan trust?

a. The client sets up the trust, purchases a bond and then lends that bond to the trustees

b. The client purchases a bond, then lends it to the trustees who then set up a trust

c. The client sets up the trusts, lends money to the trustees who then purchase a bond

d. The client receives a loan from the trustees and uses that to purchase a bond

 

2. Which of the following statements about Discounted Gift Trusts (DGTs) is true?

a. Income from a DGT can be gifted using the normal expenditure out of income exemption

b. The level of payments don’t reduce on first death for joint settlor DGTs

c. Withdrawals to meet ongoing adviser charges increase the discount

d. It’s not possible to set up a DGT for a settlor who’s already attained age 90

 

3. Which of the following statements about Gift Trusts is false?

a. The settlor is excluded as being a beneficiary of the trust

b. You can use an existing bond to set up a gift trust

c. A gift into an absolute gift trust is a potentially exempt transfer

d. Distributions to beneficiaries can only be made after 7 years

 

CPD certificate

Before collecting your certificate please take a moment to provide us feedback on this session, please email prudential.distribution.team@prudential.co.uk

Complete the form below and we’ll email your CPD confirmation to you. Please use the email address that you would usually use when making contact with us.

"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company. The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.