Join thousands of international professionals and business owners to get weekly insights on health, wealth and happiness.
An international flexible trust allows a non-UK domiciled settlor to nominate a beneficiary to be paid the proceeds of a death claim and can offer UK IHT advantages for non-UK domiciled individuals who may later become deemed UK domiciled.
An international flexible trust is not suitable for someone who is UK domiciled. This trust has a wide class of beneficiaries, of whom the settlor can be one, and it would therefore be a gift with reservation (a ‘GROB’). It would also form part of a UK domiciled individual’s estate for IHT purposes.
An international flexible trust can have up to two settlors, be used for existing bonds and can accept top-ups.
An international flexible trust can be suitable for non-UK domiciled individuals who want to retain access to their investments and who want to ensure that their policy passes to a nominated beneficiary upon death.
Yes, the settlor is a beneficiary of the trust.