Are you a member of a and Death in Service Scheme? Do you have a separate Critical Illness and Life Insurance Policy?

Payments and lump sums from Life Insurance Policies, Death in Service Schemes and Pension Funds are often very valuable assets. They usually pass to your next of kin if you've nominated them. If you haven't, they go into your estate and may then become subject to Inheritance Tax at 40%. Sometimes funds are wasted or end up with people you don't even know yet, for example if your current partner or next of kin starts a new relationship.

Our solution to deal with these valuable payments is to set up a trust into which payments from your scheme /policy can be made instead of them passing without qualification directly to family or next of kin. We also put in place a Letter of Wishes so you can outline how you'd like the funds that fall into the Trust to be used.

What's included


When you make a Trust you choose the Trustees. This means that should you die, the people you nominate will be able to access any payments quickly by simply presenting a death certificate. They will be able to use the funds for the benefit of family straight away if they need to and they can protect the fund from being wasted or passing to someone unintended.

Letter of Wishes

The accompanying Letter of Wishes is a simple, personalised guide for the Trustees on how the money should be used. This can be easily changed at zero cost to cater for new circumstances. It makes our Critical Event Protection package very flexible and affordable; you may save some inheritance tax as well.

Would you like to talk to someone about this? We're happy to help, contact us today

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