Launch of Trust Drafting Service for Advisors

Way Trustees has launched a trust writing service called Acrobat Trust for financial advisers.

The new platform will allow advisors to have two options available; to continue writing the trusts themselves, or refer clients to Acrobat where one of the Way Trustees Ambassadors will set up the trust and hand the client over to the Introducing Advisor for ongoing regulated asset advice.

So far, the firm said it relied on IFAs to complement the trust and advice work involved in setting up personal trusts for their clients.

However, the launch of its “sponsored” business model will provide a different way to do this.

Way Trustees said the launch of Acrobat Trust was in response to the many advisers who wanted to offer their clients a high-value facility but were unable to do so for various reasons.

The firm said Acrobat Trust had two main purposes, the first being to allow the settlor of trusts to place funds in a separate legal entity with a potential lifespan of 125 years, overseen by a team of professional trustees.

Their actions are always guided by the settlor’s recorded wishes which can be updated as the family progresses.

Second, because the gift in trust triggers a seven-year clock, any funds remaining in the trust after the seventh anniversary of the gift are then no longer considered for estate tax purposes.

The charge for using the service is 1% plus VAT of the initial investment and up to a maximum of £3,000 including VAT per annum, depending on the size of the investment.

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