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Business Trust

Our Business Trust is specially designed for new ‘own life, single life’ term assurance policies taken out for business protection. Business Trusts should be established at policy outset and must be signed and dated on or before the start date of the policy for it to be valid.

Key points

  • Allows the remaining shareholding directors/partners to retain control
  • Flexibility to deal with changes in business structure
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Who is it for? Why use a Business Trust? How to proceed

If you have decided that a Business Trust is suitable for your client please send us the completed and signed trust documentation as soon as possible. We cannot treat a benefit as being under trust until we have received the relevant documentation.

For business trusts the forms should be signed and dated on or before the start date of the policy. If it is not correctly completed we may not be able to accept the application.

Our trust forms are editable PDFs. This means that you can complete them online and email to your client for them to print and sign.

Completed, signed and dated, trust forms can be sent to us either by email (a scanned copy or even send a photo) or by post.

Please remember to include the relevant plan number and ensure that the form has been signed and dated.

Email: Protect@scottishwidows.co.uk.

Address:
Scottish Widows Protect Servicing Team
15 Dalkeith Road
Edinburgh
EH16 5BU.

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Trusts are documents with legal significance that may affect the rights, obligations and tax position of your client and the beneficiaries. You should not proceed unless you are satisfied that you understand its effect and that it achieves your objectives. If you have any doubts or uncertainties you should seek the appropriate legal guidance. Special consideration may be required where persons are either resident or domiciled outside the UK.

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Scottish Widows Limited. Registered in England and Wales No. 3196171. Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number 181655.

Scottish Widows Unit Trust Managers Limited. Registered in England and Wales No. 1629925. Registered Office in the United Kingdom at Charlton Place, Andover, Hampshire SP10 1RE. Tel: 0345 300 2244. Authorised and regulated by the Financial Conduct Authority. Financial Services Register number 122129.

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