Independent Wealth Management

Call us on 01276 517700 or email advice@professional-wealthcare.co.uk

Life Assurance in Trust

When you take out a Life Assurance policy, you will usually have the option of placing it into a Trust.  This is often overlooked by policy holders and unfortunately sometimes by advisers.

When a Life Assurance plan is held in Trust, it can be set up so that the benefits fall outside of the person’s estate for Inheritance Tax purposes.

People often consider that their estate is not large enough for Inheritance Tax to apply.  However, the life assurance policy itself will become part of their estate on death.  Subsequently, some people are spending their hard earned cash on funding policies that will, in part, be contributing to the Government’s coffers.

If you want your life assurance to go to your intended beneficiaries you should consider placing it into Trust.  It is important to talk this through with your adviser and to ensure that this is done in the most appropriate way.  There is usually no additional cost for this service.

Please note that taxation is subject to change in the future.

Blog Categories

Pensions

Planning for retirement, your options, review your plans...

More

Investments

Investing your capital for tax efficient growth or income...

More

Protection

Protect your family, life assurance, critical illness, income protection...

More

Barry has been providing me with excellent financial advice since 2003. He has simplified and consolidated a number of pensions that I had started with various organisations through different employers over the years to one pension – making it much easier for me to have a clear view of my investments and know where I stand. I receive regular, easy to understand updates, with Barry providing the added value of explaining what it all means and offering advice on actions to take. Barry ensures that he keeps current with my financial and personal circumstances and is able to adapt and make excellent, informed recommendations quickly and clearly. I would highly recommend Barry and Professional Wealthcare for your financial management solutions. He is now responsible not only for the planning of my financial security, but also for that of my children.

Jill Wells