Free Trust Service

What is a Trust?

A Trust is a legal document where the policyholder can name the family & friends they want to receive the pay-out when a claim is made. These people are named beneficiaries.

A Life Insurance policy written in Trust allows the policyholder to name Trustees, who need to be 18 or over, who will be responsible for distributing the pay-out to the beneficiaries.

Trusts can help avoid inheritance tax

Under normal circumstances, the payout from a life insurance policy will form part of your legal estate, therefore it could be subject to inheritance tax. By writing a life-insurance policy in trust the proceeds from the policy can be paid directly to the beneficiaries rather than to your legal estate, and will therefore not be taken into account when inheritance tax is calculated.

It can help avoid probate

Probate is a legal process which confirms an executor’s authority to deal with your possessions. Writing a policy in trust also means payment to your beneficiaries will probably be quicker as the money will not go through probate.

It could give you greater control over your policy

Writing life insurance in trust allows you to specify how you want the proceeds to be paid out. In addition, setting up a trust means that the payout will go to the people you want  it to.

Its Free

After you take  your life Insurance you can out the policy into Trust at no extra cost