Revert to Settlor Trust
The Revert to Settlor Trust is available for use with existing Regular Savings Plans. It ensures that any benefits payable in the event of the settlor's death are held outside the settlor's estate for his or her chosen beneficiaries, while the maturity benefit (and any critical illness benefit payable under the plan) is held for the settlor.
Key benefits
- For use with existing Regular Savings Plans only.
- Discretionary trust for wide class of beneficiaries.
- Regular premium payments usually exempt gifts if made out of surplus income.
- Death benefits held outside settlor's estate for inheritance tax purposes.
- Maturity benefits and critical illness benefits (if any) held for the settlor with no gift with reservation issues.
- No scope for settlor to access funds prior to policy maturity date.
- Joint or single settlements.
| Key details | |
|---|---|
Eligibility |
|
Features |
|
Inheritance tax (IHT) |
|
IHT reporting |
|
Key documents
Revert to Settlor trust form (PDF, 615KB)
See all our trust documents in one place, including forms, guides and brochures.
Other information you need
-
The Revert to Settlor Trust is suitable for clients with existing Regular Savings Plans who:
- would like to receive any benefit payable either on maturity of the policy or in the event of a critical illness; but
- wish to ensure that any death benefit payable under the policy passes to their chosen beneficiaries free of inheritance tax.
Not for your client?
Take a look at our other trust options
-
The Revert to Settlor trust is available for use with existing Regular Savings Plans.
-
Before you proceed
Before proceeding further you should ensure that your client wishes to set up a Revert to Settlor Trust.
The process
Step 1
Complete the Revert to Settlor Trust form (PDF, 615KB)
You will then need to print the form and ensure it is signed by all the relevant parties.
Step 2
A copy of the trust form should be sent to us at the address below, so that records can be updated to show that the plan is now under trust.
Scottish Widows
PO Box 28117
15 Dalkeith Road
Edinburgh
EH16 9AN