A discounted gift trust (DGT) allows the settlor to retain an interest in the trust, by keeping the right to receive fixed regular capital payments. While these plans come in many forms, the basic principle is that the settlor carves out his right under the trust and gifts the other rights from which he cannot benefit. There is no reservation of benefit because the rights and investment growth the settlor has gifted is a separately identifiable right and the settlor is specifically excluded from those benefits.

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