Life insurance can I change trustees?

suegoo

Hi, I put my life insurance into trust and named two of my children as trustees, they are also beneficiaries with two other children.
The oldest was to receive the largest share and use it to pay for the funeral etc.
Problem is he has a mental illness and is no longer capable of fulfilling this duty. Can I take his name off the trust or just start again and write a new one?

InsideInsurance

You can change the details of the trust

weighty1_2

It depends on the individual company's trust and its wording. Some providers trusts provide settlor rights were the life assured (yourself) retains authority over who acts as the trustees. Other companies trust forms are worded so that a trustee must agree to be removed from the trust and cannot just be "ousted".

I'd suggest speaking to your broker and asking if they can find out or just phoning the life company themselves and asking them to clarify.