Completing a Trust Form and the Benefits

Completing a Trust Form and the Benefits

A guide to completing a protection trust form….


Settlor/Grantee This is the person who owns the plan. Depending on who your new   policy is with, will depend on which term is referred to, but both mean the same thing.


Trustees – The trustees are the people that ensure your chosen beneficiaries receive the proceeds of a claim in the event of your death and a subsequent claim on the policy. As the plan holder, you are automatically a trustee, but this doesn’t need to be noted on the trust document.


We recommend that you appoint at least 2 additional trustees, generally one will be your chosen beneficiary (partner or spouse for example), the other would tend to be a close friend or family member, generally of a similar age or younger. They must not be a minor.



Witnesses – This is the person who witnesses your signature. They must not be a minor or a relative and must be someone who is independent of the trust document.



The trust form will ensure that in the event of a claim, the proceeds will go to the beneficiary as quickly as possible, rather than having to go through probate which can prove timely.

In addition, under current legislation, because you are giving away the benefits of the policy before you die, they do not form part of your estate and are therefore not subject to inheritance tax.

If you have any questions about the completion of your trust document, please feel free to give my office a call.

01276 29011

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