The concept of an A&M trust emerged in England and Wales after the enactment of the Capital Taxes Act 1974 (CTA). The CTA discouraged the use of discretionary trusts by introducing new tax rules, but it made a specific exception for trusts designed to help young people under the age of 25.
The idea of an A&M trust originated in England and Wales after the passage of the Capital Taxes Act 1974 (CTA). The CTA discouraged the use of discretionary trusts by introducing new tax regulations, but it created a specific exemption for trusts designed to assist individuals under the age of 25.