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Writing Life Insurance into Trust

When recommending a client follow this advice, it is very rare to not get asked: so what’s the benefit of writing life insurance into trust? Well, quite simply, doing so is one of the best and easiest ways of shielding a slice of your estate from Inheritance Tax (IHT) and thus safe guarding your wealth for the benefit of those who will ultimately benefit. Life insurance policies can make up a significant portion of your estate. By placing it in a trust, you can preserve it in its entirety and determine how and when your beneficiaries receive their inheritance.

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Explained: What is a Will and Do I Need One?

To reiterate, anyone over the age of 18 and who has capacity can make a Will. I strongly recommend doing so to anyone in a relationship, who has children, assets or a combination of all three. And importantly, Wills are not for just sorting out finances and property in the event of death; you can specify what should happen if you become incapacitated (known as an advanced decision, advance directive or living Will), appoint guardians for your children and even leave money to your friends or a charity.

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