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Scottish Life says draft trusts still beneficial following budget changes

Scottish Life International has evaluated its range of draft trusts in light of changes in the budget and says they remain appropriate.

The life office examined its range following IHT changes brought in by the 2006 finance act. SLI says the trusts are designed to assist with the avoidance of costs and delays associated with obtaining probate, protecting non-UK assets of non-UK domiciled investors from the negative effects of IHT as well as IHT planning opportunities for UK domiciled/resident investors.

SLI technical officer Neil Chadwick says: “From simply negating the need to obtain probate, to undertaking IHT planning, trusts remain very useful tools and should not be overlooked.”

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