What are the benefits of putting life insurance policy into a trust?

What are the benefits of putting life insurance policy into a trust? There are some significant benefits to putting a life insurance policy into a trust (called “written in trust”) and it’s important to consider whether this is an option for you. When you take out a life insurance policy you are naturally thinking of your loved ones and it is a fair bet that you would be hoping that the money would be quickly distributed and in full. However, a life...

What happens if a gift in my Will fails?

What happens if a gift in my Will fails? When we make a Will, we often think that our wishes will be carried out exactly as we expect but life is rarely straightforward and there can be circumstances where gift in a Will can fail. So, before you make your Will it is a good idea to think about the potential circumstances where your gifts could not work out the way you intended. No longer owning the gift This is a pretty common...

The Tax benefits of giving to charity

The Tax benefits of giving to charity When people make a Will, they often think about leaving a bequest to their favourite charity but what you may not know is that there can be significant benefits to leaving money to charity in your Will. Leaving money to a UK charity in everyday life is, of course, tax-free and this exemption extends to any gift that is included in your Will How inheritance tax is affected by charitable giving There are two main ways...

The common mistakes people make when they don’t make a will.

Mistakes people make when they don’t make a will If you haven’t made a will then you may think that all of your money might just automatically go to your partner but nothing could be further from the truth. In fact, there are strict laws that set out how assets should be distributed upon someone’s death if they haven’t made a will. Passing on without a will or intestacy as it’s called in law is unfortunately quite common but it can cause...