International family office Stonehage Fleming has struck an alliance with wealth planning provider Lombard International Assurance. The Stonehage Fleming Lombard partnership will offer the family office’s clients access to the latter’s unit-linked insurance solutions

The announcement on Wednesday comes a day before the news of Lombard’s ‘International Life Plan’, which will offer HNWIs protection through liquidity offerings.

Chief executive of Lombard International Assurance, Axel Hörger, acknowledged that HNWIs “have significant responsibilities and so providing liquidity at the right time is essential to ensure that their legacies continue.”

The International Life Plan is being made available to UK and German residents and to UK non-domiciliaries with UK obligations.

Among the target audience for the service will be those HNWIs carrying out succession planning where inheritance tax is likely to play a key role.

The UK recently introduced legislation that brings residential property within the scope of inheritance tax for non-domiciled individuals, whether they are UK resident or not.

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By GlobalData

The German Inheritance Tax Reform of 2016 saw a growing number of German family owned businesses (German Mittelstand) exposed to IHT.

Stonehage Fleming will offer its clients access to Lombard International Assurance’s unit-linked life assurance solutions, which will be available in 20 markets.