ChatterBank1 min ago
Life Assurance Place In Trust
11 Answers
My OH has just bought life insurance and wants to put it in trust. I will be a trustee and also the only beneficiary. If we both died together, what would happen to the money?
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Ta
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No best answer has yet been selected by rockyracoon. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Yes, he can put a clause in your will which states what will happen to the trust if you die before him or if you fail to outlive him by say 30 days (might save some inheritance tax).
If he is older than you and you die together, he will be deemed as the first to die, so there is no problem.
His will should state what will happen to his estate if you die before him.
If he has no will and you die first it will be treated as an intestate death and the standard rules of intestacy will apply.
If he is older than you and you die together, he will be deemed as the first to die, so there is no problem.
His will should state what will happen to his estate if you die before him.
If he has no will and you die first it will be treated as an intestate death and the standard rules of intestacy will apply.
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