LIFE ASSURANCE company Royal Skandia has created a new trust to help IFAs and their clients plan for Inheritance Tax.
The Royal Skandia Generation Planning Trust enables a married couple to avoid Inheritance Tax by placing assets in the trust but retaining the right to access it should they need to.
The trust is suitable for UK residents and those with UK connections and is available through any Royal Skandia Bond.
Commenting on the trust a senior tax barrister, Andrew Thornhill QC said: “This represents a sensible way of giving away assets while retaining the right to access them. “
“There are few ways in which this can be done and this in my view is one.”