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Trust information.
What is a Trust?
A trust is a way of giving away something of value (in this case the life insurance policy) for the benefits of others (the beneficiaries), but without giving them full access to and control over the policy.
When placing the asset in trust you specify who you want to be a beneficiary and who you want to look after or control the trust asset (the trustees).
Please note, once you have created a trust it cannot usually be brought to an end before it has served its purpose. It is sometimes possible for the beneficiaries to bring a trust to an end if all the beneficiaries are over 18 and agree. This may be very difficult in practice, especially where the beneficiaries include minors. It is therefore important that you contact your legal or financial adviser before creating a trust if you are in any way unsure of whether it is appropriate for your circumstances.
Trust Forms
On the right hand menu you will find a guide to our absolute trust and absolute trust form PDF's.
The guide to trusts helps explain:
- How to set up a trust
- Why you should set up a trust
- What is a trustee
- What is a beneficiary
- Tax implications
You will also find an example of a completed trust form within the guide, this will help you complete the trust, which will give you guidance when completing the forms should you decide to place your life insurance policy in trust.
We also offer a flexible trust and a discretionary trust which are available by contacting us on the number below.
If you have read all of the information and wish to place your policy in trust please print the necessary trust forms, complete them and send back to:
Legal & General
Trust Team
Pod 26
City Park
The Droveway
Hove
BN3 7PY
If you have any questions about our guide to trusts or the trust forms please call our Trust team on 0845 073 0777 between 8:30am to 5:00pm Monday to Friday.*
Please note, the trust team will not be able to provide any financial or legal advice.
*We may record and monitor calls. Call charges will vary.
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0800 316 8435
9am to 5pm on Saturday
We may record and monitor calls
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