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life assurance and trust
drmjafri
Posts: 26 Forumite
I fail to understand the point of putting spouse name as the principal beneficiary of the term assurance policy. As even if the money is paid into my estate. According to HMRC rules, ones estate is transferred to spouse without IHT.
So, i believe beneficiary should be anybody except your spouse ...i am happy to be corrected
So, i believe beneficiary should be anybody except your spouse ...i am happy to be corrected
0
Comments
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Hi
Looking at your statement it depends on who you want to receive the money! But you are correct in that someone other than your spouse can get the money IHT free. However there can also be a gain for the spouse in that the money should get to him/her more quickly via a trust than waiting for a will to be settled.So speed of payout can be a reasonI am an Independent Financial Adviser. For regulated individuals like me there are rules on giving financial advice. Therefore any posts I make are meant to be helpful but are not financial advice.0
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