The removal of the £300+VAT fee applies to all new Royal Skandia applications received during this period with £200,000 or more where a Royal Skandia Trust Company trust is appointed as corporate trustee.
Skandia said trusts form a “fundamental part of inheritance tax planning but can also be used for a wide variety of other financial planning solutions”. The company said a recent poll it conducted, found that as many as 40% of international financial advisers say they always consider the use of trusts as part of the advice process.
Rachael Griffin, head of product law and commercial development at Skandia International, said: “Choosing a trustee is one of the most important decisions a settlor can make. Utilising an independent corporate trustee service is one way to ensure trustee duties are followed and ongoing consideration is taken of the beneficiaries needs.
“Royal Skandia Trust Company already offers excellent value by not charging an establishment fee, but by waiving the annual fee for the life of the trust we have just removed the last reason not to appoint an established professional trustee.”
