A Trust agreement is a legal arrangement used to transfer assets to your chosen trustees and beneficiaries. There are many advantages to putting your life insurance policy into Trust, including tax benefits for estate planning purposes.
There are multiple types of Trust you can choose, depending on what you want it to do and the potential beneficiaries. Selecting the right one for you will ensure you have peace of mind.
If you purchase a life insurance policy through Protect Line, we will help you set up a Trust for no additional cost.
Within six weeks of buying your life insurance policy you will be asked to schedule a phone call with Protect Line’s Trust team. These specialists will walk you through the process of helping you choose the right type of Trust for you, pick your trustees and beneficiaries for your life insurance policy, and help you correctly fill out the required forms.
The Trust process does not take long, and once your policy is placed in Trust, you can relax knowing your life insurance policy will be paid out to your chosen trustee(s) who will then distribute it to your chosen beneficiaries.
Trust planning is not regulated by the Financial Conduct Authority. Inheritance tax planning is not regulated by the Financial Conduct Authority.