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Find out about the trusts we offer and how to use them

Trusts

Discretionary trusts

Similar to most trusts, the trustees are the legal owners of any assets called trust property. The trustees are responsible for running the trust for the benefit of the beneficiaries, as normal.

One of the main differences between this another other types of trust is that the trustees have 'discretion' about how to use the trust's income. This means they can if circumstances change it can be altered by the trustees to make sure it’s still effective.

Trustees may be able to decide:

  • how much income and or capital is paid out, if any
  • which beneficiary to make payments to
  • how often the payments are made
  • which beneficiary to make payments to

It's important to know that we only provide a tailored discretionary trust form for LV= Relevant Life Cover. This is because the product is designed from the ground up to be used with this type of trust.

Detailed information about discretionary trusts with LV= Relevant Life Cover

If you're looking to use a discretionary trust for anything other than LV= Relevant Life cover we don't currently provide a discretionary trust. So we'd recommend you contact a solicitor to draw up a discretionary trust appropriate for your clients.

Speak to our adviser support team for quotes or more information.

0800 678 1890

TextDirect 18001 0800 678 1890

9am - 5.30pm Monday - Friday

We may record and/or monitor calls for training and audit purposes.

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK