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Improving the IHT flexibility of our Wealth Preservation Accounts

We’ve made some great new enhancements to our Wealth Preservation Accounts from Canada Life International. To improve flexibility when it comes to modelling income levels and tax liabilities through the annual policy maturity process, the maximum number of individual policies available has increased to 99,999.

There is also a vastly reduced new minimum of £10 per individual policy, down from £2,000 - any applications in the current pipeline will use this to determine their new maximum allowance.

The Wealth Preservation Accounts allow an individual to make gifts into trust with the aim of building up a fund of money outside the individual’s estate which is free from inheritance tax, but at the same time have the option to receive an annual ‘income’.

Designed to be an effective IHT mitigation solution and an alternative to discounted gift trusts, the Wealth Preservation Accounts are among the most innovative products in the marketplace.

We’re hard at work on further enhancements to our systems which we’ll announce shortly.