Friends Provident International (FPI) announced today enhancements to its offshore product range in the UK with the launch of the Succession Planning Bond.
The flexible offshore bond offers investors the ability to preserve their accumulated wealth enabling them to transfer their wealth to future generations in a tax efficient manner. This facility will appeal to a wide range of clients and will offer a competitive range of investment choices.
The Succession Planning Bond offers investors four ways to potentially reduce their liability to IHT and, at the same time, shape their own and their family's financial future.
The Trust choices available are, in both Absolute and Discretionary versions:
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Loan Trust
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The Capital Access Trust
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The Discounted Gift Trust
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The Gift Trust.
The Bond has two options available a life cover option (Whole of Life) which offers the flexibility to include up to ten people as 'Lives Assured' and could include beneficiaries. There is also a guaranteed maturity value option (Capital Redemption) that guarantees to pay a minimum of two times the initial investment subject to terms and conditions.
Flexible investment and payment choices, options and trusts make this Bond unique in the market.
Irvine Baxter, UK Sales Director at Friends Provident International, commented:
"The Succession Planning Bond is designed to plug a gap that Friends Provident International has identified in the investment market. It offers an excellent combination of funds and investment choices, together with the trusts options and flexibility that will appeal to advisers who have clients looking for a method to mitigate their IHT liabilities.
"I believe that the choice of a Capital Redemption Bond and Lives assured, with discretionary and absolute trusts, together with full open architecture and discretionary managed investment options make the Succession Planning Bond unique in the market."
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