Regulation  

Old Mutual updates trust tools

Old Mutual updates trust tools

Old Mutual International has launched a new trust decision tool and trust form finder to help advisers decide which trust to use.

The tools are available on the Old Mutual International website and will take advisers through a few simple questions before it suggests which trust may be suitable for their customer’s circumstances.

The form finder tool will be available on the website in the coming weeks and will automatically select the required documentation for the customer and adviser depending on which trust they select.

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According to Old Mutual International bosses, this will be especially useful in professional trust company cases, where there are a number of different legal documents which all must be completed.

Typically, trusts are used in complex family situations such as forced heirship, avoidance of probate, or to mitigate inheritance tax liabilities and for the purposes of protection and control of assets.

The firm hopes that they should help eliminate a lack of adviser confidence in recommending trusts.

Rachael Griffin, head of technical marketing at Old Mutual Wealth, said trusts are under-utilised, yet they can be a really powerful tool for advisers to use with their customers.

“Those investing significant sums in an offshore portfolio bond will be the type of customer who is in greatest need of wealth planning, and using trusts can help mitigate tax exposure and protect their assets for their beneficiaries.

“The trust decision tool combined with the trust form finder will help to simplify our trust proposition and help remove any barriers for advisers.”

peter.walker@ft.com