Trusts*
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When you die, the proceeds from a life insurance policy will normally be paid into your estate free of tax. However, there could be inheritance tax to pay if your total assets exceed a certain limit. There may also be a delay because the insurer cannot hand over the money until legal matters concerning your estate have been resolved.
Only a small percentage of people put their life insurance in trust. Yet doing so could be very advantageous, possibly avoiding going over the inheritance-tax threshold, and getting the benefits sooner due to bypassing probate.
A trust allows you to set aside an asset to benefit a specified person or people, known as the beneficiaries. The asset is managed by a trustee until such time as the beneficiary is intended to benefit.
As trusts are such an important area for you to consider, we would be happy to talk this through with you for new or any existing policies you may have.

Wills*
A Will is something that anyone with family members should certainly put in place but which many people don’t consider until their later years.
Unfortunately for some, this is too late and they die without first having made a Will. If you do not make a Will before you pass away you shall, in law, die intestate. Dying intestate means that your property may probably not go to the people you would like it to go to.
Wills are referred to a 3rd party. Fortune Financial Planning Ltd and First Complete Ltd are not responsible for any advice received from the 3rd party.

*These products & services are generally not regulated by the Financial Conduct Authority