LV= has launched a free online tool to help advisers write new and existing life policies in trust from any provider.
The Trustbuilder tool features an online decision tree to help decide whether a trust is needed and which is the most suitable trust for clients.
Advisers can then input key details online, such as the appointed trustees and beneficiaries, and produce pre-populated forms.
Users can also download a guide to trusts and look at useful information ahead of talking to clients.
The move follows a recent LV= survey that found that nearly a quarter (23%) of IFAs avoid writing policies in trust because they don’t understand them or aren’t confident explaining trusts to clients.
Mark Jones, LV= Head of Protection said “It was important for us to make this tool as useful as possible by being able to apply it to both new and existing polices, covered by any provider.
“As well as being able to bypass probate, and being useful for inheritance tax planning, policies written in trust are often less likely to lapse, which benefits the client and adviser as well as the provider.
“We’ve trialled Trustbuilder with advisers and received excellent feedback, and believe that it adds real value in trying to get more life policies written in trust.”
www.LV.com/Trustbuilder
