Trust toolkit

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)

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

You can also download our Deed of appointment and assignment (PDF) 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 (PDF) to change the ownership.

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

Use our Relevant life policy trust and nomination forms (PDF) 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 (PDF) 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 (PDF) 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.