Put your policy in Trust
Make sure your cover pays out to the right people at the right time.
You decide who gets how much.
Money is paid without legal delays.
Trusts could avoid inheritance tax costs*.
In the vast majority of situations, the best thing you can do is put your Life Insurance policy in Trust.
My Life Insured Trusts offers clients the FREE arrangement of Trusts for their policies. Call us now to find out more.
*Tax rules are subject to change.
Call a trust expert free on: 0330 058 1105 (Option 5)
What are the benefits?
A Flexible Trust allows you – and whoever you choose – to control what happens to your money after your death. You decide who receives how much.
The money is passed directly to your beneficiaries, without reference to your will, or the taxman.
Trusts avoid probate – and so pay beneficiaries faster. With a Trust, Life Insurance can pay out within a week, without a Trust the average wait is 3 months.
Trusts are easy to arrange – at My Life Insured we arrange them FREE OF CHARGE for our customers.
Common questions
What is a Trust?
A Trust is a legal document that ensures money from a policy claim is kept separate from an estate. It avoids tax and speeds up a payment.
I have a will, do I need a Trust?
Yes. Although a will ensures that money goes to the right people, the money from a will is distributed after probate, and after tax. A Trust bypasses that.
What are the disadvantages of a Trust?
Once it has been applied to a policy, a Trust cannot be removed. We use flexible Trusts that always allow changes in trustees and beneficiaries.
Do Trusts avoid all taxes?
In all but a very few cases, setting up a trust will avoid inheritance Tax. No tax is charged on the Trust if the insurance you’re paying for costs less than £3000 a year or if it is paid for out of already taxed income.
If you are unsure whether a Trust is for you, you may wish to seek specialist legal or tax advice.
Or prefer to talk now?
Call us at
0330 058 1105
