Overview
The Lifestyle Trust is our most popular trust due to its flexibility and IHT efficiency. It enables the client to take capital payments at fixed points in the future if they need it – with the option to defer if they don’t.
This is explained in our client facing animated video. Please watch this with your clients to help them understand more about the Lifestyle Trust.
You can use this client facing URL if you wish to email the video to your client.
Adviser video
Short video overview of our Lifestyle Trust for advisers.
Quick facts
- For use with the Collective Investment Bond.
- A flexible solution where the client gifts money to a trust and has the option of taking capital payments in the future.
- They can forgo or defer access to capital payments if they wish, so they can achieve their objectives without having to make irrevocable decisions about their own future financial needs.
- The Lifestyle trust can help your clients mitigate their inheritance tax liability and manage the future distribution of assets.
- The settlor chooses their trustees. They can also appoint themselves as a trustee.
- This is a discretionary trust where classes of beneficiary are defined within the deed; for example, ‘children and descendants of the settlor’. Beneficiaries not covered by the classes can be added to the trust by the settlor.
Suitability
Lifestyle Trust policy fund management tool
Use the Lifestyle Trust policy fund management tool to help you set up and manage policy fund entitlements on the Lifestyle Trust, which can be saved locally and used in regular reviews.
How to use the Lifestyle Trust policy fund management tool
Watch our short user guide to help you get the most from our Lifestyle Trust policy fund management tool.