Wealth Preservation Europe Account

Effective estate planning with flexible access

Many clients are prepared to gift money to a trust in order to help reduce a potential inheritance tax liability. However, they may want to retain some form of access to payments from that trust but do not want the rigidity of a discounted gift scheme.

The CanTrust Wealth Preservation Europe Account from Canada Life International Assurance (Ireland) is a unique trust arrangement designed to save inheritance tax, whilst allowing the settlor flexible access to the money and the trustees the ability to make payments to the beneficiaries before the settlor dies.

  • The original investment is outside of the settlor’s estate and free of personal inheritance tax after seven years.
  • Any growth on the investment is not part of the settlor’s estate.
  • The tax efficient growth of an investment based in Ireland means that any growth achieved in the Account is not subject to the UK tax regime. UK tax may apply when any profit is brought back into the UK.
  • No VAT on any fees payable to discretionary investment managers.
  • The settlor has access to payments and the trustees have the power to defer these.
  • The trustees can make payments to the beneficiaries during the settlor’s lifetime.
  • The bond and trust can continue after the death of the settlor.

The value of investments can fall as well as rise and you should speak to a professional adviser to ensure that any investment is suitable for you.

The Account is true open architecture – this means that almost any collective fund from around the world can be used, as can cash deposits, investment platforms or discretionary investment managers.

It is possible to use multiple funds, platforms and discretionary managers and the investments can be changed at any time.

The CanTrust Wealth Preservation Europe Account will appeal to UK residents who have a potential IHT liability and are willing to make a lump sum gift into a trust, whilst retaining access to payments from the trust and giving the trustees the ability to make payments to the chosen beneficiaries.

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International Portfolio Bond Discounted Gift Trust

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This website is for UK professional advisers only and is not approved for use by private customers.

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.