Safeguarding your protection.

Trusts Explained

At Michael Chandler Insurance we understand the importance of Trusts and when we recommend a policy we will advise whether or not it is beneficial for it to be placed in Trust.

Our advisers will work closely with you to recommend in terms that are easy to understand the correct protection to suit your family, personal and business needs, and where relevant that you have safeguarded this protection by putting it in trust.

By doing so, we offer you the additional peace of mind that, should the worst happen, the right money is paid at the right time to the right person guaranteed.

Right Time

If you put your plan in trust it allows a claim to be paid a lot faster than if the plan was not in trust. If you die without putting your plan in trust your representatives may have to obtain a Grant of Representation before they can deal with your plan. This process can take several months. 

Putting your plan in trust can avoid this delay. We have a range of trusts that are bespoke to the plans we offer.

Right Money

Your trustees are responsible for investing and distributing the trust funds. You can use a trust to give some or all of the benefits of your plan to other people. This means that the benefits you give away would not be part of your estate if you die, and would not usually be subject to inheritance tax. 

Inheritance tax is payable on any part of your estate which is valued over the current tax year threshold. Please note that neither Michael Chandler Insurance nor First Complete Ltd is able to provide advice on taxation matters. Should you require such advice please contact a professional tax adviser / accountant.

Right Hands

The Trusts we have available are flexible, which means you decide who will benefit from your cover and who will be responsible for making sure that happens.

When you're setting up a trust you have control over who will administer any money paid out from a claim (the trustees) and who will benefit from any money paid out (the beneficiaries). You can also make sure you receive any benefits that you want to keep for yourself, for example a payment following a critical illness claim.

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