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Review summary

International Flexible Trust

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.

Overview
FAQ
Customer Reviews
Expert Verdict

An international flexible trust is not suitable for someone who is UK domiciled as such a 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’, in IHT-speak). 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.

 

The Pros

> Potential inheritance tax (IHT) planning benefits

The Cons

> Not suitable for UK domiciled individuals
Is the Settlor a beneficiary of the trust

Yes

Who is the International Flexible Trust suitable for?

The International Flexible Trust may be suitable for non-UK domiciled individuals who wish to retain access to their investments wish to ensure that their policy passes to a nominated beneficiary upon death.

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Expert Assessment of an International Flexible Trust

An International Flexible Trust can be a useful solution, but whether it is applicable has to be determined on a case-by-case basis.

The case for using trusts in general also needs careful consideration on an individualised basis.

If you already have a trust structure in place and would like a second opinion - or, if you are wondering whether the utilisation of a trust could be of benefit in your personal circumstances contact our trust experts for comprehensive, highly qualified advice.

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