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Trusts

When we make a recommendation for life cover we will also advise whether it is beneficial to place that cover in trust.

“By putting your Personal Protection Plan in TRUST you can make sure that the Right money makes it into the Right Hands at the Right Time.

If I told you about a product that:

• Was free
• Could save you 40p in every £1
• Could save months of legal wrangling

Would you be interested?”

Reasons to Set up a Trust

SPEED

If the policy is written in trust, the trustees can make the claim and the proceeds will be paid straight away as there is no need to wait for the Courts to grant probate

If not in Trust there could be significant delay at the time when the money is needed the most.

NOMINATION OF BENEFICIARIES

Clients often assume that the policy proceeds will be paid out to their families in the event of their death. However, how can they be sure that the proceeds will end up in the right hands? If anyone in the UK dies without leaving a Will or Trust, instead of passing to the desired beneficiary, the law will decide who receives any inheritance.  A trust will ensure that the proceeds will end up with the intended beneficiaries. This can be especially important for any unmarried couples or those with children from previous relationships.

TAX PLANNING

Proceeds from a Life Policy will be added to the value of the Estate, on death, for Inheritance Tax purposes. By writing the plan in trust ensures that any proceeds can be outside of the Estate on death, therefore potentially mitigating future Inheritance Tax.

Please note that Graeme Black Financial Services does not offer advice on taxation matters. You should contact your accountant or other suitably qualified person for advice on taxation matters’

FREE SERVICE & PEACE OF MIND

No cost & ensures your policy proceeds are put in the right hands at the right time.

Requirements

• 2-4 Trustees – a typical Trustee can be family or close friend, preferably of similar age and circumstances who you can trust to administer your instructions on your death.
• 15 minutes of your time

Role of a Trustee

• To carry out your wishes
• To liaise with the Life Company and beneficiaries’ Solicitors to distribute the proceeds of the policy as per your wishes to the chosen beneficiaries.

Please contact us on 028 3753 0473 for more details.

 Trusts are not regulated by the Financial Conduct Authority

 

Wills

Do you have a Will? If not, here are just a few reasons you need one:

• Your family could suffer financial hardship that could last years after a death from delays caused by not having a will.
• Your spouse might not receive everything and unmarried partners will receive nothing
• The Courts will decide who takes care of your children – not you. A Will would relay your wishes.

If you don’t have a Will or need an existing Will updated, we can assist you. Please contact us for more information.

Contact us for a detail sheet and to find out more.

Wills are referred to a third party. Neither Graeme Black Financial Services nor First Complete Ltd accept responsibility for any advice provided by the specialists that we can refer you to.

Wills are not regulated by the Financial Conduct Authority.