Cookies

We use cookies to improve your browsing experience on our website, to analyse our website traffic, and to understand the effectiveness of our targeted advertising. For more information, click here to view our Cookie Policy.

International Flexible Trust

The FPIL International Flexible Trust is designed to assist non-UK long term resident policy holders with their succession planning objectives.

Issues for consideration

  • The trust is not suitable for someone who is UK long term resident, as the trust has a wide class of beneficiaries (of which the settlor is one) and it would therefore be a Gift with Reservation. It would also form part of the client’s estate for UK inheritance tax purposes.
  • The International Flexible Trust can be used with a new application for an FPIL policy, or with an existing FPIL policy. However, this cannot be used where the existing policy is owned by a company or a trust.
  • If it is decided at a later date that client no longer wishes to have the policy in the trust, then the trustees can assign the ownership of the policy back to the client
  • After the death of the client, if there are surviving lives assured, or the policy is written on a capital redemption basis, the trustees can assign the ownership of the policy or policy segments to a beneficiary aged 18 or over.

Trust Deed

How it Works Guide