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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11453
Experience:  30 years as a practising solicitor.
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How do I write a life insurance policy into trust?

Resolved Question:

How do I write a life insurance policy into trust?
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
The life company will generally provide you with their preferred form of trust documentation. Alternatively, if the policy is to be transferred to an existing trust, this can be done by a formal assignation of the policy to the trust.
I hope this helps. Please leave a positive response so that I am credited for my time.
Customer: replied 2 years ago.

Thank you.

The life company supplied trust documents but they applied to English law only. Will these documents be ok to used in Scotland without any complications? I understand that if the policy is in trust then the money can be released more speedily than if kept in my estate.

Thanks,

Jim

Expert:  JGM replied 2 years ago.
Yes, the life policy is under English law so it's OK that the trust is the same.
JGM and 2 other Scots Law Specialists are ready to help you