Guide To Trusts

Although putting a policy in to trust isn’t necessarily suitable for all people, it can be advantageous in the case of many.

This guide is here to give you a basic understanding but please speak to your Regal Finance expert in order to proceed with setting up the most suitable trust.

What is a Trust?

A trust is a simple legal arrangement that allows you (the settlor) to gift your life insurance policy to someone else (the beneficiary). It’s a great way to ensure that your life insurance is not considered to be a part of your estate when you die, so your beneficiaries won’t face the burden of inheritance tax on your life policy.

How Do Trusts Work?

Setting up a trust means that you (the settlor) give your policy to the trustees who then legally own your policy and look after it for the benefit of your beneficiaries. You will still be responsible for paying the premiums on the policy, but the trustees will be responsible for the trust deed.

It is important to select the right type of trust as some cannot be amended. However the right trust can provide lots of flexibility so that your changing circumstances can be taken in to account.

What Are The Advantages In Having A Trust?

You get to specify who the beneficiaries are, and who you trust to act on your wishes.
Avoiding Inheritance Tax – using a trust should mean that the money paid out from your life insurance will not be part of your estate, increasing the amount of money that can passed to your beneficiaries.
Quicker payment of the sum assured – with a trust you do not need to wait for probate to be granted so the money can be paid to those who need it a lot quicker.

How Do I Set One Up?

Speak to your Regal Finance expert today to assist you with placing your policy in to the most suitable trust.

Kiran
Kiran
2024-01-15
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L Fowler
2024-01-04
Matthew and his team have gone above and beyond to help us with our mortgage. As first time buyers we decided to seek advice from a mortgage advisor. After having an offer accepted on a house we needed some support with the mortgage fairly quickly and Matthew managed to fit us in out of usual hours to suit us. We had a very detailed call with him and all our questions were answered. From this point onwards Kirsti managed our application and the whole process was fast and effortless as they managed everything. We made the best decision using Regal finance. If you choose to go with Regal you’ll be in good hands.
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2024-01-04
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Sam Powell
2023-12-07
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Erion Andoni
2023-10-10
I recently had the pleasure of working with Rick to secure a mortgage for my new home and a buy-to-let mortgage for my existing property. Rick's assistance was truly invaluable throughout the entire process. Rick effortlessly guided me through both processes, making sure every detail was covered. His commitment to assist and his availability and willingness to answer my questions, no matter how small was exemplary. Rick's expertise in mortgages was impressive. He made a complex process seem straightforward. I wholeheartedly recommend Rick as a mortgage broker. He is not only skilled but also genuinely cares about his clients' success.
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Yolanda
2023-09-27
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Peter Nelson
2023-08-22
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samantha sothcott
2023-08-02
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amy evans
2023-08-01
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izzy P
2023-06-15
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