Wills & Trusts

We will work with you to understand your situation and needs, then develop personalised advice to help you achieve your goals

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What you should know:

Right money

You can use a trust to give some or all of the benefits on your plan to other people. This means that the benefits you give away would not be part of your estate if you die, and would not usually be subject to inheritance tax.

Inheritance tax is currently payable at 40% on any part of an estate valued over £325,000 (2017*). If you don’t put your plan in trust, any money it pays out is added to your estate.

Wills & Trusts

Right hands

Our trusts are flexible, which means you have control over who will benefit from your cover and who will be responsible for making sure that happens.

When you’re setting up a trust you have control over who will administer any money paid out from a claim (the trustees) and who will benefit from any money paid out (the beneficiaries). You can also make sure you receive any benefits that you want to keep for yourself, for example a payment following a critical illness claim.

Right time

If you put your plan in trust it allows us to pay any claim you make more quickly than we could if the plan was not put in trust. If you die without putting your plan in trust, your representatives may have to obtain a Grant of Representation before they can deal with your plan. This process can take several months.

Putting your plan in trust can avoid this delay. We have several trust forms available. Your financial adviser can help you decide which one best suits your Circumstances.

*If you give away your home to your children (including adopted, foster or stepchildren) or grandchildren, your threshold will increase to £425k (as of April 2017).