In doing this, we’re helping you do the right thing for your clients and making it easier for you to do business with us.
As an adviser, you’ve worked hard to show your clients how valuable protection can be. Protection needs are wide ranging, but I suspect all of your clients have one thing in common – they want the money to reach the right people quickly. Trusts can help to do just that, as well as helping mitigate inheritance tax.
Well, there is. Writing policies under trust ensures that payments can be made to beneficiaries quickly. In the case of life cover, probate will not be required if the plan is written in trust. The trustees will be able to distribute the money in line with the policyholder’s wishes and avoid probate fees. The process is called Confirmation in Scotland.
The good news is that it isn’t. For all personal protection arrangements, excluding Relevant Life Plans, trusts can be put in place at any time. We’ve made it easy for you to write plans under trust when applying for the cover or after the plan has been put in place. You can even arrange the trust online with our online trust service.
All our trusts are designed around our products. We can help you find the right type of trust for clients – take a look at our trust tool on our website. There’s also a range of useful guides to help clients understand trusts and help them choose the right trustees. You might also like to take a look around our Technical Central page which may help answer your questions on trusts and taxation.