Skandia has launched a discretionary trust on its UK platform.
The trust, The Best Start in Life, is already available through its international business.
Skandia says those who invest in Skandia Investment Solutions collective investment bonds can assign the investment to the trust to ensure any growth sits outside their estate.
There is also the option of using a bare trust, which Skandia says is particularly attractive where the beneficiary is a minor.
Skandia financial planning and proposition marketing manager Phil Carroll says: “The trust has proved extremely popular in our international markets, so we decided to extend this to our UK platform.
“Whilst often perceived as complicated, clever use of trusts can result in significant savings. The trust allows trustees to reduce the tax liabilities for the settlor or the beneficiary by using just one flexible tax-efficient solution.”
Technical Connection joint managing director Tony Wickenden says the launch is part of a general move across platforms to develop trusts which can be used for a range of assets rather than solely insurance bonds.
He says: “A number of platforms have already done this and the more choice advisers have when managing estate planning on platforms the better.”