By working with Sterling Trustees, a fully regulated Isle of Man Trustee Company, this short form trust is designed to act as a cost-effective structure to hold a Life Policy. This not only provides clients with a low cost trust structure, but also a range of financial planning benefits.
Pre-paid cards can be issued as part of the setup and allows any type of withdrawal from a Life Policy to be transferred to the card. With high load limits and cards issued in all major currencies, the trust & card fits the requirements of international investors.
The trust & pre-paid card is compatible with all major Life Companies and can be used with new or existing investments.
Working like a credit card, pre-paid cards allow money to be added to them. The amount is as much as is required. Importantly, instead of offering a line of credit the card takes all purchases of the existing balance.
The pre-paid card is similar to a virtual bank account and provides round the clock access to cash, via ATMs, as well as over the counter purchases, online purchases and POS purchases.
Furthermore, funds can be transferred from the card to other bank accounts. This allows it to offer the same features as a traditional bank account.