WHY YOUR LIFE INSURANCE SHOULD BE IN TRUST (LIFE INSURANCE TRUSTS EXPLAINED)
Вставка
- Опубліковано 10 лип 2024
- This video is to explain the benefits of having your life insurance policy in a trust and the importance of doing so. Trusts can help in many ways with inheritance tax, speed of a pay-out in the event of a claim and also making sure your policy proceeds are paid the right beneficiaries.
The cost of our insurance service is free of charge - we also provide a free will writing service via MyLastWill.co.uk. Ready to go? Don’t delay, book your FREE online consultation here now - Arrange An Appointment here via our website - bit.ly/32ltl25
Not quite ready? Have some questions? That’s ok; we know it’s not every day that you get a mortgage or review an existing one.
Get in Touch;
• Call us for a chat on 0330 175 7504
• Email our team at info@dm.mortgage
• Check out our website here - bit.ly/32ltl25
Start your remortgage or home moving journey today. Get in touch with us now to find out how we can make moving home a breeze.
We also offer advice on protecting your investment with Life Insurance, Critical Illness Cover and Income Protection.
My name is Nicola McKenzie, co-founder of Dunham McCarthy Financial Services. My team and I are dedicated to making mortgages easier for you. Whether you are a first time buyer, climbing the property ladder, investing in a buy to let or simply re-mortgaging, we have an expert on hand to take the burden off of your shoulders.
We’re an independent broker, meaning we have access to nearly every mortgage and insurance policy out there so we can help you get the best deal.
Finally, as a way of saying thank you, with every mortgage or insurance policy we arrange you will receive a voucher to write a Will at MyLastWill.co.uk. Now that’s a first!
For Will Writing & Trust advice, head to;
W: www.dunham-mccarthy.co.uk (Detailed Estate Planning Advice)
W: www.mylastwill.co.uk (Online, quick, easy and convenient solution to draft your Will)
Timestamp
00:00 Intro
01:12 What is a trust
02:58 Protect against Inheritance tax
04:17 Fater access to your money
06:15 More control over your assets
09:02 Other points to consider
11:24 Summary
**Your home may be repossessed if you do not keep up repayments on your mortgage**
Dunham McCarthy Financial Services Ltd is an appointed representative of Primis Mortgage Network, a trading name of First Complete Limited which is authorised and regulated by the Financial Conduct Authority.
#lifeinsurancetrust #contactus #bookafreeappointment
Why don’t videos like this have more views ? I refuse to leave my children with nothing as previous generations before me. I will pass down generational wealth down too them. I’m getting my whole life insurance soon.
Did you get it?
By far the most detailed introductory Video I have watched around this topic
Ŕ330pl
I find your videos really easy to understand and very clear. Thank you for this
Really informative and clear on such a complex topic thank you!
Thanks so much for simplifying this , very useful information
Thanks so much, very useful information.
Thank you for this. I was thinking the trust pays out after 150 years after the policy holder has passed away
Great video!
This was very useful.
I made notes! Thank you x
very helpful thank you
Great informations ! Tks !
Nice
Why pitchforks and muskets weren't gathered over inheritance tax alone, I'll never know.
Hi thanks for the video
Do you know when may you borrow this money of your trust ?
nicola you are not only beautiful but very knowledgeable about this complex topic
Thank you!
Great video. Very informative. Can you have more than one trust?
Hi Jess, thanks! yes you can have multiple trusts.
Does Donna McCarthy underwrite policies abroad. Like in Ghana?
can you borrow from your policy in the uk?
Do you have to keep paying the life insurance in order to maintain the trust? My parents stopped their life insurance when they paid off their mortgage. Does the trust still exist?
If it is a life insurance trust then yes, the trust is only going to be applicable in the event of the policy paying out. If it is a property trust then the trust would still be applicable so really it depends on the type of trust in place.
Can your trustee live abroad?
Hello Nicola may i ask you a question , if i died and had money in my bank account how would my N o K retrieve the money on my behalf , what is the procedure . many thanks
It depends on the amount as to whether or not probate is involved and it also depends on whether or not you have a will (a will drastically speeds things up). If so then quote a lengthy procedure on average 6-12 months.
Get their pin number before they go. Then pull it out. They would want you to have it.
If u both spouse have a insurance and 3rd person is a trustee an one of the person die so who will get the money the other insurance holder or the trustee
It depends on the type of trust. If you need a hand selecting the most suitable trust then please get in touch.
T: 01785 338148
www.DM.Mortgage
If I only have one beneficiary, can I just gift my asset to my beneficiary to pay for my life insurance policy? Then I don't even have to bother with setting up a trust, right?
If it is worth over £325,000 the beneficiary could have an inheritance tax liability. Also they may prefer the flexibility of being able to decide how/when the money is paid that you can have with a trust.
What if the setllors and trustee both die? And beneficiaries are set up. -Where does the money go?
-Can a trustee be a beneficiarie?
In answer to your first question it would depend on the wishes stipulated in your will if you have one. If not then courts would appoint executors and trustees and money would be distributed according to the laws of intestacy.
A trustee can also be a beneficiary.
This is completely inaccurate for America. Just fyi.