Lombard launches its tax mitigation initiative

Lombard International Assurance has launched an inheritance tax (IHT) mitigation arrangement designe...

Lombard International Assurance has launched an inheritance tax (IHT) mitigation arrangement designed to help advisers reduce or eliminate their clients' UK inheritance tax liabilities. The Wealth Preservation Trust (WPT) relies on the 'carve out' principle to avoid falling foul of the reservation of benefit rules, thereby allowing investors to enjoy benefits from a capital donation. The client applies for a Lombard Private Client Portfolio (PCP) on the lives of the beneficiaries, indicating the level of fixed income to be carved out at 2%, 3%, 4% or 5%. The income stream runs for th...