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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10544
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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Good afternoon to one and all. I'm in the process of taking

Resolved Question:

Good afternoon to one and all. I'm in the process of taking out a life insurance scheme and my question to you is simply, "would it be in my inerest to have the policy placed in trust or not"?
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.
Hello and thanks for using Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
If you have a person in mind who you would definitely wish to benefit from the Policy, it is always best to have the policy placed in trust. This has 2 advantages-
1. The value of the Policy will not count towards your Inheritance tax free Estate sum of £325,000.
2. Whoever is to benefit from the Policy, would receive the sum immediately more or less on your passing, rather than having to wait until Probate has been obtained by the Executor of your Will/your next of kin if you did not leave a Will.
I hope this assists and answers your question.
If so, I would be grateful if you could leave positive feedback.
Kind Regards
Al
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