Scottish Life International draft trusts remain beneficial in post budget environment
Wednesday, 7 May 2008
Scottish Life International has evaluated its range of draft trusts and is pleased to announce that they remain appropriate in the post budget environment.
Following IHT changes to trusts in the 2006 Finance Act, Scottish Life International reassessed its range of trusts to comply with new legislation.
Scottish Life International's draft trust range can be beneficial to a broad selection of investors. Their trusts are capable of assisting with the avoidance of costs and delays associated with obtaining Probate; protecting non-UK assets of non-UK domiciled investors from the negative effects of IHT, as well as IHT planning opportunities for UK domiciled/resident investors.
The draft trusts that Scottish Life International offers include the Absolute Trust; Bare Trust for Settlor; Discounted Gift Trust; Discretionary Trust; Excluded Property Trust; Gift Trust; Loan Trust and Probate Trust.
Neil Chadwick, Technical Officer at Scottish Life International commented,
"From simply negating the need to obtain Probate, to undertaking IHT planning, trusts remain very useful tools and should not be overlooked. "
---ENDS---
For further information please contact:
Scottish Life International
Zoe Redhead
Communications Analyst
Tel: 0131 456 6024
Notes to Editors:
Scottish Life International was launched in 1996 and is now part of the Royal London Group. The company has grown rapidly in size and now has funds under management in excess of £800m ($1.59bn) worldwide (as at 31 December 2007). Scottish Life International is based in the Isle of Man, where it is supervised by the Isle of Man Government Insurance and Pensions Authority.
Scottish Life International is a member of the Association of International Life Offices (AILO) and sponsors IFA Promotion (IFAP), which supports the need for independent financial advice.
Holders of policies issued by Scottish Life International Insurance Company Limited, based in the Isle of Man, will not be protected by the UK Financial Services Compensation Scheme if the company becomes unable to meet its liabilities to them. Policyholders will however be protected by the Isle of Man Life Assurance (Compensation of Policyholders) Regulations 1991.
Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value premium propositions, operating through a number of brands:
- Scottish Life – UK pensions market
- Bright Grey – UK protection market
- Scottish Life International – offshore investment markets
- Royal London Asset Management – fund management
- Royal London Administration Services – life and pensions administration
- Fundsdirect / Ascentric – funds supermarket; Wrap platform.
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £33.1 billion ($66.11bn).Group businesses serve around three million customers and employ 2,620 people.(Figures quoted are as at 31 December 2007.)
Issued by Scottish Life International Investment Group Limited, a Royal London company which is authorised and regulated by the Financial Services Authority. Registered in Scotland number 166387. Registered office: 19 St Andrew Square, Edinburgh EH2 1YE.R02504May 2008