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Wills & Trusts 

* Wills Wills and Trusts are not regulated by the Financial Conduct Authority 
Do you have a Will? If not, here are just a few reasons why you need one:• Your family could suffer financial hardship that could last years after a death from delays Your spouse might not receive everything and unmarried partners may receive nothing 
The Courts will decide who takes care of your children - not you! 
We have an arrangement with a firm of specialists who provide expertise in this area along with an excellent service. We are therefore happy to recommend them to you and they can arrange to discuss your needs at your convenience. We are confident you will find their dedication to service as comprehensive as our own. 


When arranging protection policies such as life insurance it is important you consider the benefit of writing the policy in Trust. This may sound complicated and involve extra paperwork but it is relatively straightforward to do and we can guide you through the process, indeed we can put policies in Trust for our clients at no additional cost. 
When you write a policy in Trust, it basically means that you nominate one or more Trustees who will ensure any monies paid out on your death go to the people you wish it to go to. If you don’t write a policy in Trust, the money will go into you estate on your death and be paid out after the estate is settled. The main reasons for writing a policy in Trust are as follows: 


if policies are in joint names and one of the policyholders dies, the survivor would be paid the proceeds quickly, normally on production of the death certificate. However, if the policy is on a single life basis, the policy will not pay out until probate (or confirmation in Scotland) is granted on the estate. This can sometimes take months. If, however, the policy had been written in Trust, the funds do not go into your estate and the Trustee can make a claim for the proceeds to be paid immediately. 

Tax planning 

when a policy which has not been written in Trust the proceeds, as described above, go into you estate. This will potentially increase the Inheritance Tax liability. If a policy is written in Trust then the proceeds can be paid directly to the Trustee for the benefit of the beneficiaries without going into your estate, thus avoiding a potentially increased tax liability. 


when a Trust is set up you ensure that who you wish to receive the benefits of a policy on your death definitely does. Because the proceeds don’t go into your estate, they are paid directly to the Beneficiaries via the Trustee. This can be extremely important in circumstances where someone may have been married before or have particular wishes for the policy proceeds should they die. You will either be asked to name the Beneficiaries in the Trust deed or give a “Letter of Wishes” to the Trustee so they know who you wish the proceeds to go to on your death. 
Trusts are an important area for you to consider and we would be happy to talk this through with you for new or any existing policies you may have. 
Please either call us on 01782 392191 or complete our website contact form. 
* Wills are referred to a 3rd party. Vikki Marie Houldcroft t/a VMH Financial & PRIMIS Pensions & Investments are not responsible for any advice received from the 3rd party. Wills and Trusts are not regulated by the Financial Conduct Authority. 
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