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FundsNetwork launches trust for non-domiciled clients

Fidelity FundsNetwork has announced the addition of an Excluded Property Trust to its range of Multi-Asset Trusts, which allows anyone who is not UK domiciled to put non-UK assets into trust and avoid inheritance tax on these assets.

The Excluded Property Trust can be used in conjunction with the FundsNetwork International Bond, or onshore and offshore collectives.

In some circumstances, the trust may be used by UK domiciled clients who receive an inheritance from a non-domiciled benefactor.

Fidelity FundsNetwork business development director for trusts and tax planning solutions Paul Kennedy says: “Trusts used by UK domiciled clients are simply not appropriate for the non-domiciled client. Adding this final trust to our existing range of Multi-Asset Gift Trusts, Loan Trusts and Discounted Gift Trusts provides the necessary solutions for advisers to ensure they select the trust most appropriate to a client’s individual circumstances.”

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