We've designed the split trust for use where your clients want to put their life cover in trust for their chosen beneficiaries but retain access to certain benefits.
For example income protection or critical illness cover (where they survive diagnosis by 30 days).
This trust is available as a discretionary trust which means the trustees have flexibility to make payment to any of the discretionary beneficiaries. And it’s also available in a bare trust version, which makes sure the beneficiaries are fixed.
The split trust (jointly owned plans – survivor to benefit)
This trust is similar to the split trust explained above. The only difference is that it’s designed for jointly owned plans where the plan owners want to receive any other benefits. It’s available as either a discretionary trust or a bare trust.
Our signature free process
We know processing a trust application can be a struggle - especially when you need so many signatures.
Our signature free trust process allows you to complete the application for your client without having to wait for signatures from nominated trustees or your client - making the process simple.
Please note this is a guide and shouldn’t be relied on as actual advice.