Wealth Preservation Account

  • The original investment is outside your estate and free of inheritance tax after seven years.
  • Any growth on the investment is also not part of your estate.
  • You have access to payments and the trustees have the power to defer these.
  • The trustees can make payments to the beneficiaries during your lifetime.
  • The tax efficient growth of an investment based on the Isle of Man for a UK resident 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.

Effective estate planning with flexible access

Passing wealth on to future generations, without incurring large amounts of inheritance tax can often be a challenge. The CanTrust Wealth Preservation Account allows you to gift money into a trust and provides you with flexible access to payments from the trust.

The gift you make into the trust potentially reduces the value of your estate and therefore the amount of inheritance tax your beneficiaries may have to pay.
Once in the trust, the trustees will have control the money and they can make payments to your beneficiaries should they want, for example to help with education fees.

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 any of the 40 or so investment platforms or 150+ discretionary managers that we already have agreements in place with.

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

The CanTrust Wealth Preservation Account will appeal to those with a liability to UK inheritance tax, who have a lump sum of money they are prepared to 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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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.