Trusts

When you set up a policy to provide the benefit to your dependents it may be beneficial to put the plan in trust.

The trust becomes the owner of the policy benefits in the event of a claim.

There are other reasons for setting up a policy in trust, and it is not always suitable for everyone. We recommend that if you are still unsure about whether or not to use a trust you should seek legal advice before proceeding.

You do not have to write your policy in trust from the outset and if you prefer you can add the trust at a later stage once the policy is running.

Reduce

Inheritance Tax

Policy benefits are paid into the trust, which is outside of your estate. Therefore when your estate’s inheritance tax liability is calculated the insurance is not included.

Protect

Your Estate

A trust ensures that you protect the benefits from creditors of your estate.

Faster

Policy Payout

When a life assurance policy is written under trust the benefit does not go through probate which means the policy can be paid out more quickly.