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Putting life insurance in trust for IHT purpose
lake888
Posts: 33 Forumite
My husband and I do not have any children. Therefore we can only make use of the combined nil rate band of £650000 when passing the estate to our nephew and niece when we die. I have heard a lot about putting life insurance in trust as the pay out is not included in the estate and we want that money to be used to pay IHT before probate granted. Are there any drawbacks in doing so?
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Comments
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Masses of reliable and straightforward info available if you google eg https://www.unbiased.co.uk/discover/insurance/life-insurance/what-is-life-insurance-in-trust-and-should-you-put-yours-in-oneGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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