Our Business Trust is specially designed for new ‘own life, single life’ term assurance policies taken out for business protection. Business Trusts should be established at policy outset and must be signed and dated on or before the start date of the policy for it to be valid.
- Allows the remaining shareholding directors/partners to retain control.
- Flexibility to deal with changes in business structure.
Trusts are documents with legal significance that may affect the rights, obligations and tax position of your client and the beneficiaries. You should not proceed unless you are satisfied that you understand its effect and that it achieves your objectives. If you have any doubts or uncertainties you should seek the appropriate legal guidance.
We cannot treat a benefit as being under trust until we have received the trust documentation fully completed and signed.