Skandia has extended its ‘Best Start in Life' trust to the UK platform in light of demand for the planning solution through the international business.
The trust is initially set up as a discretionary trust but without an immediate requirement to nominate beneficiaries or specific entitlement payouts. Legal ownership is still transferred to the trustees and the settlor may choose to complete a ‘letter of wishes' giving guidance to the trustee on how to divide the capital. Trustees are able to assign the assets to the beneficiary or to make an absolute appointment by creating a bare trust. Skandia financial planning expert Phil Carroll said: "The ‘Best Start in Life' trust has proved extremely popular in our international markets, ...
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