Before you apply
Before proceeding to the application stage you should ensure that your client wishes to set up a Discretionary Trust for OEICs. The Discretionary Trust for OEICs is designed for use with the Scottish Widows OEIC. It is not suitable for use with a bond or other life insurance based product.
Please also ensure your client has read the important notes for applications.
The application stage
Complete the OEIC application form. The application form should be completed by the client/investor.
Complete the Discretionary Trust Deed. The trust should usually be completed at the same time as the application form for the OEIC.
The following items should accompany the application
- Cheque for investment amount
- Confirmation of verification of identity of the settlor(s) and all additional trustees
- Completed form 45965 – registering a new or existing OEIC under trust
The investment will be issued to the trustees.