Trust, deeds and rules

Your guide to trusts, deeds and rules

Important

The documents we refer to in this guide are for use with the group death in service cover we provide.

The trusts, rules and deeds we provide are examples of documents you can use to set up and update your scheme. We’ve designed them to be executed in the UK in line with English Law.  You do not have to use our examples, and can change them to suit a specific need or even use your own.

Our example deeds have been written to update schemes set up using our example trusts and rules.  These deeds may not be suitable if your scheme has been set up differently, or if you have chosen to change our examples.

Before you execute one of these documents you need to make sure it meets your needs, and we recommend you talk to your legal adviser to find out if it is suitable.  You will be responsible for any legal fees you incur.

Don’t forget to tell us if you are changing the scheme.  The policy may need to be updated to continue to meet your needs.  Changes to the policy can be made from a current or future date and terms may apply.

For policies covering employees

For policies covering employees
The changes Documents needed
Setting up a new scheme for a new policy.
  1. Declaration of trust (to set up the new scheme).
  2. Supplemental deed of adherence (to include any other employers).
  3. Scheme rules. 
Including a new participating employer. Supplemental deed of adherence. 
Changing the scheme name. Supplemental deed of amendment.
Principal employer has changed its name and also wants the scheme name updated. Supplemental deed of amendment. 
Principal employer has changed its name but doesn’t want to change the scheme name. None
Principal employer is replaced by a new principal employer. Deed of assignment 
Moving the policy from one scheme to another where the new scheme has already been set up. Deed of assignment 
Moving the policy from one scheme to another the employer is setting up using our example documents.
  1. Declaration of trust (to set up the new scheme).
  2. Supplemental deed of adherence (to include any other employers).
  3. Deed of Assignment (to transfer the policy from the old scheme to the new scheme).
  4. Scheme rules.

Visit the literature section to download trusts, deeds and rules.

For policies only covering equity partners or Limited Liability Partnership members in a non registered scheme

For policies only covering equity partners or Limited Liability Partnership members in a non registered scheme
Your changes Documents needed
Setting up a trust to describe how benefit will be paid. Declaration of trust.
The firm is being wound up and replaced by another (for example a Limited Liability Partnership replaces an equity partnership). Deed of appointment retirement and assignment. 

Visit the literature section to download trusts, deeds and rules.

General information on trusts, deeds and rules