Writing your life insurance policy into a trust can help to provide more for your loved ones. It provides greater flexibility over who you would like the money to go to and how much. A trust document for life insurance is straightforward to set up and comes with many benefits for the policyholder and their family.
At Stonebridge Rock, we provide a free service to help all our customers with their trust documents.
What is a trust?
A trust is a document that allows you to decide who you would like your life insurance policy to go to and who you would like to execute this. Trust documents also outline how much you would like each beneficiary to receive.
Who can be a beneficiary?
A beneficiary can be anyone you wish to receive the payout from your life insurance policy. This can be a partner, a parent or your children. A beneficiary could also be a charity you wish to leave money to or anyone you wish to receive some money in the event of your death.
Choose your trustee
When setting up your trust document you will appoint a trustee who will manage the payout on your behalf. A trustee is responsible for ensuring that the money of your life insurance claim goes to your chosen beneficiaries. A trustee can be a business, partner or anyone you trust to distribute the funds as you intended.