The Benefits of a Life Policy Trust
Ensure Faster Payouts
Ensure Faster Payouts
Ensure Faster Payouts
When your policy is in trust, it means that your loved ones can access vital funds in a matter of weeks not months.
Settling an entire estate takes, on average, 9-12 months, but with a trust document alongside your life policy, the proceeds can be paid out without having to wait, giving your loved ones the financial support they need, when they need it.
Avoid Inheritance Tax
Ensure Faster Payouts
Ensure Faster Payouts
Life assurance payouts that are not in trust can be subject to inheritance tax of 40% if your estate exceeds the tax-free threshold. Placing your policy in trust keeps the payout separate from your taxable estate, ensuring that the money goes directly to your beneficiaries rather than HMRC.
Maintain Control
Ensure Faster Payouts
Maintain Control
A Life Policy Trust allows you to decide exactly who benefits from your policy, in what proportions and when. You can set conditions, such as part payouts at specific ages and appoint fund guardians who ensure your wishes are carried out.
Life Policy Trusts also offer protection against creditors or disputes, ensuring the money goes exactly where it’s intended.