Trust toolkit

When you’re arranging protection for your clients, setting up a trust can help make sure that the payout from their plans ends up in the right hands, at the right time - without up to £4 in every £10 going to the taxman.

Choose the right trust

Do you need a little help choosing the right trust for your client? Use our handy tool Find the right trust.

Trust toolkit for personal protection

With clients looking for ways to save money and less than 10% of protection plans in trust, now might be a good time to tell them about the benefits of putting their plans in trust - at no extra cost.

Download 'Why use a trust sales aid'

You can use this easy-to-follow flowchart in face-to-face meetings with your clients. It shows clearly and simply who will benefit if your clients die without leaving a will.

Download 'The rules of intestacy - England and Wales' PDF

Download 'The rules of intestacy - Northern Ireland' PDF

Download 'The rules of intestacy - Scotland' PDF

Putting plans in trust means you have to approach the nominated trustees to explain their role, which gives you the chance to speak to them about their own protection needs.

Download 'approach letter' doc

Download 'guide to being a trustee' PDF

Trust toolkit for business protection

Use our Business trust form to set up a business trust for new clients.

You can also download our Deed of appointment and assignment which can be used if your clients want to transfer the ownership of a plan from the trustees to business owners who plan to stay in the business.

And if someone has left the business and wants to take their policy with them, they can use our Deed of assignment to change the ownership.

We've also included a Change of trustee form in case your clients need this in future.

Use our Relevant life policy trust and nomination forms to put a relevant life plan in trust. The plan owner, who is the employer, should complete the trust form and the person covered should complete the nomination form so that the trustees know who the beneficiaries of the plan are.

If the person covered wants to change who their beneficiaries are in the future, or amend the proportions of the benefit, they just need to complete a new nomination form, or send a letter to the trustees with details of their wishes.

And our Deed of appointment to beneficiary will let the trustees release any payout from the plan to the beneficiaries named by the person covered.

We've also included a Change of trustee form in case your clients need this in future.

If a client has a shareholder or partnership share purchase arrangement in place and their share of the business is eligible for 100% business property relief or agricultural property relief, they can make the arrangement more tax efficient by setting up a bypass trust through their will.

If the client dies, their share in the business is held in trust for their family. Their share can then be sold to the remaining shareholders or partners so that the trust holds cash which can be invested.As these investments are held in trust, they don't form part of the client's spouse's estate.

And if the client’s spouse dies, the investments can be passed to their children without any inheritance tax liability. This type of trust helps protect the value of a business for future generations.

Download Our guide to the bypass trust for more information. This guide also includes example wording that can be used in your client’s will.

Last updated: 12 Jan 2017

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