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Axa sets up legacy deal

Axa’s offshore wealth arm, Axa Wealth International, has bolstered its trust range offering with the launch of a legacy planning bond.

The legacy planning bond will sit alongside the estate plann- ing bond. Axa Wealth International says the move is designed to offer advisers the choice of having IHT planning solutions from both the Isle of Man and Dublin jurisdictions.

The legacy bond will be set up as a life insured product while the existing estate planning bond, which is based in the Isle of Man, is a capital redemption product designed to help clients pass on their wealth in a tax-efficient manner while taking an income.

Axa Wealth says the legacy planning bond has not been set up as a capital redemption bond because the solvency margin for a capital redemption bond in the Isle of Man is 0.25 per cent while in Ireland it is signific- antly higher at 4 per cent.

Axa Wealth International sales and marketing director Richard Leeson says: “We have witnessed recent market growth in tax-efficient investment opt-ions being sold through the Republic of Ireland. The introduction of the legacy planning bond provides Axa with the ability to offer further choice to IFAs who are looking to offer their clients a European base for their offshore investments.”

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