When trusts are tricky

TRICKY TRUSTS

clock

It is almost always best to write life insurance policies into trust, but the practice is not always popular among clients. Rachel Dalton finds out why

Life insurance policies provide a lifeline to families suffering the loss of a member. It makes sense that bereaved families would want to access the money provided when a life insurance policy is triggered as quickly as possible, and a trust can help to do that. However, setting up a trust is not always straightforward and there is no one-size-fits-all solution. Why trusts? Usually when a policy holder dies, their life insurance policy passes into their estate. It is then subject to all of the complications of probate. Alan Lakey, director at Highclere Financial, explains: “G...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

My Care Hub expands to public following strong adviser support

My Care Hub expands to public following strong adviser support

Advice sector has played ‘pivotal role’ in successful rollout of care guidance platform

Jenna Brown
clock 10 September 2025 • 4 min read
CBI CEO urges Rachel Reeves to take back manifesto promise not to raise tax – report

CBI CEO urges Rachel Reeves to take back manifesto promise not to raise tax – report

Rain Newton-Smith claims ‘the time for tinkering is over’

Isabel Baxter
clock 10 September 2025 • 2 min read
'Fundamentally' different advice profession risks reputational damage from football scandal

'Fundamentally' different advice profession risks reputational damage from football scandal

High profile advice incidents like V11 ‘damaging’

Isabel Baxter
clock 09 September 2025 • 3 min read