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 benefit of others (the beneficiaries), but without giving them full access to and control over the policy.
When placing the insurance policy 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. The beneficiaries may bring a trust to an end only if they are all over 18 years of age, of sound mind, ascertained and in agreement. 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.
Learn more
On the right hand menu you will see our guide to trusts and trust schedules PDFs.
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, which will give you guidance when completing the forms if you decide to place your life insurance policy in trust.
Trust information for the Fixed Plan and Increasing Plan
Next Steps
If you are still unsure as to whether you should place your policy in trust please contact your legal / financial advisor for advice.
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 dedicated team on:
0845 073 0777*
8:30am to 5:00pm Monday to Friday
Legal and General may record and monitor calls for training and monitoring purposes. Call charges will vary.
Please note the trust team will not be able to provide any financial advice.