The obscure new beneficiary registration trap for life policy trusts adds yet another layer of complexity, writes Ruth Gilbert
The old lack of trusts chestnut In theory, trusts are a great solution to ensuring life cover claims aren't held up in probate on single life cases. For a few, they can also avoid the taxman taking a slice of inheritance tax off the proceeds. But in practice, it's just too hard a sell to get them done. We already know customers find trusts too confusing. The same can be said for insurer administration and marketing teams and not a few financial advisers. So it's not surprising that...
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