Can I change the beneficiaries on a life assurance policy once it has been written in trust?
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I am planning on getting married in 2012, but would like to get a policy in place now.
greatscott
1 year ago
Expert Financial Adviser Answer
Islay Robinson
answered 1 year ago
Yes you can - you need to contact your insurer or financial adviser and they will send you the forms, it is quite simple but make sure you get advice before you sign anything
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Expert Financial Adviser Answer
Paul Richardson
answered 1 year ago
Just to clarify - if it is placed in a bare trust then you may struggle ...
A discretionary trust will give you the power to do this
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A discretionary trust will give you the power to do this
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
as Paul has commented you need a flexible or discretionary trust as that enables changes to beneficiaries and will often include classes of default beneficiaries whereas a bare or absolute trust can never be changed.
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