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Our Flexible Gift Trust can help your client to reduce the potential inheritance tax due on his or her estate. Because the Trust is written on a discretionary basis, the trustees use their discretion when deciding who ultimately benefits from the trust capital. As this is not a split trust the life assured, or settlor does not retain an interest in the policy. This means that they cannot receive benefits from a death, terminal illness or critical illness claim.
If you have decided that a Flexible Gift Trust (Discretionary) (PDF) is suitable for your client please send us the completed and signed trust documentation as soon as possible. We cannot treat a benefit as being under trust until we have received the relevant documentation.
Our trust forms are editable PDFs. This means that you can complete them online and email to your client for them to print and sign.
Completed, signed and dated, trust forms can be sent to us either by email (a scanned copy or even send a photo) or by post.
Please remember to include the relevant plan number and ensure that the form has been signed and dated.
Scottish Widows Protect Servicing Team
15 Dalkeith Road
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. Special consideration may be required where persons are either resident or domiciled outside the UK.