A Flexible Trust is a legal arrangement which allows the owner of a life policy (the settlor) to give their
policy to a trusted group of people (the trustees), who look after it.

At some time in the future they pass it on to some people from a group that the settlor has decided (the beneficiaries).

A Flexible Trust has two types of beneficiaries. The default beneficiary are entitled to any income from the trust as it arises. In practice, if the life policy is the only asset in the trust there will not be any income.

The discretionary beneficiary only receive capital or income from the trust if the trustees make appointments to them during the trust period. If no appointments are made by the end of the trust period, the default beneficiaries will receive all of the benefits.

Speak to your financial adviser for advice.

How do I complete my Flexible Trust form?

Visit our Trust Hub below.