Overview
A simple IHT solution where the client does not require access to the capital, knows who they want to leave their wealth to, and requires no future flexibility.
Quick facts
- Also known as a bare trust.
- Two absolute trusts are available on Quilter's platform:
1. The Absolute Trust - for use with the Collective Investment Bond
- The Absolute trust is available in English and Scottish law.
- This is a trust where your client, the settlor, makes a gift to trust and irrevocably nominates their beneficiaries. Once the trust is in place, neither the beneficiary nor their share of the trust fund can be changed.
- The settlor chooses their trustees. They can also appoint themselves as a trustee.
2. The Designated Account (irrevocable version) – for use with the Collective Investment Account
- Once the designation is in place, the beneficiaries cannot be changed.
- The settlor is automatically appointed as a trustee. Additional trustees can be appointed post issue.