David Nicholls Associates David Nicholls Associates David Nicholls Associates

Trusts

Writing a Life assurance Policy in Trust is Vital.

It could save you thousand’s of Pounds in Inheritance Tax and can be arranged without any cost to you and without fuss. It can also avoid Probate and can make sure the money is paid out quickly to those who need it without having to wait months and months which can cause financial problems.

What is Writing in Trust?

It is important that a life assurance policy is correctly written in trust. If you currently have or are considering life assurance then it is likely that there is a specific need for the insurance and that you have specific intentions for the money if a death occurred. A trust is a legal document which ensures that the proceeds are paid promptly, in accordance with your wishes and in a tax efficient manner.

Lets just take a moment to discuss the implications of a claim on life policy which is not written in trust:

* Firstly there is a real chance that the money will not end up in the hands of the person you had always intended it to.

* Secondly the proceeds are likely to take on average between 6 and 9 months to be released. You need to ask yourself whether a delay of 6 to 9 months or more would cause any financial difficulties to the surviving beneficiary. Especially the monthly mortgage payments & the day to day bills, etc

And lastly there may be a tax liability on the proceeds of up to 40%. If a reduction of 40% is likely to cause problems then we need to consider how to protect the monies.

By allowing us to write your policy in trust:

1) We can help make sure that the proceeds will be paid to those you wish to,

2) We can make sure that the proceeds will be paid promptly and in a matter of days,

3) We can make sure that there will be absolutely no tax liability on the proceeds.

Taking out appropriate life cover is only step one. Step two is to ensure that the proceeds are paid in accordance with your wishes and this will often require a suitable trust.

As part of our commitment to customer service and satisfaction we will do all the legal work on your behalf absolutely free of charge when we help you with a Life insurance policy.

This is also to confirm that Trusts are not regulated by the Financial Conduct Authority.

Nicholls Financial Services Limited trading as David Nicholls Associates is an appointed representative of In Partnership the trading name of The On-Line Partnership Limited which is authorised and regulated by the Financial Conduct Authority (FCA) FCA number 540161