Wills & Trusts…

Essentially both Trusts and Wills not only protect your estate but also serve to ensure that whatever you set aside is made available to the beneficiaries thereby avoiding the need for probate. They can also serve as an effective tool to limit the impact of inheritance tax.

At Mortgage Circle not only do we help you to make the right decisions and the right choices but we do so in plain uncomplicated English.

Trusts – A trust is a legal arrangement where one or more ‘trustees’ are made legally responsible for holding your assets. The assets – such as land, money, buildings, shares or life insurance policies etc. – are placed in trust for the benefit of one or more ‘beneficiaries’.

At Mortgage Circle, we offer the service of putting a Life Insurance Policy into Trust, and we do it FREE of charge.

What are the advantages of writing a life insurance policy under Trust?

  • Payment of the policy proceeds can be made quickly to the trustees. Insurance company doesn’t need to wait for Probate to be granted, which can be a lengthy and complicated process, taking up to several months in some cases.
  • You can indicate beneficiaries – people who you want the proceeds from your life insurance policy to be paid to (i.e your wife, husband, your children or friends etc.).
    If you don’t write your policy in trust the proceeds would usually be paid to the people who are appointed to look after your affairs when you die.
    If you’ve made a will then you may have left specific instructions about who should get what. But if you haven’t then there are strict rules around who will get what from your assets when you die.
    This may mean that the people who eventually get the money from your life insurance policy may not have been the people you wanted to get it.
  • Once you’ve put your life insurance policy in trust, the proceeds that are paid out won’t normally be included in your estate for inheritance tax purposes, and can usually pass tax-free to whoever you choose as beneficiaries.

In simple words: by putting your life insurance policy under trust is making sure that in the event of your death the right people will receive the policy benefits and they will receive it as quickly and tax efficiently as possible saving them time, money and troubles.

Wills – A will is a legal declaration of how you wish to dispose of your property on your death. In order for it to be valid it must comply with certain requirements.

Four reason why you need a will!

  • A will makes it much easier for your family or friends to sort everything out when you die. Without a will the process can be more time consuming and stressful.
  • If you don’t write a will, the law decides how your estate is passed on – and this may not be in line with your wishes.
  • A will can help reduce the amount of Inheritance Tax that may be payable on the value of the property and money you leave behind.
  • Writing a will is especially important if you have children or other family who depend on you financially or if you want to leave something to people outside your immediate family.

Common rules if you don’t make a will

  • If you’re not married and not in a civil partnership, your partner is not legally entitled to anything when you die.
  • If you’re married, your husband or wife may inherit most or all of your estate and your children may not get anything. This is true even if you are separated (but not if you’re divorced, except in Scotland).
  • If you have children or grandchildren, how much they are legally entitled to will depend on where you live in the UK – but if you make a will you can decide this yourself.
  • Any Inheritance Tax that your estate has to pay may be higher than it would be if you had made a will.
  • If you die with no living close relatives, your whole estate will belong to the Crown or to the government. This law is called ”Bona Vacantia”

Advice from one of our advisers will help you to understand the legal jargon, and ensure that your will is legally valid. We’ll guide you through the process and help you think through how your estate should be divided.

Just give us a call or click  FREE CONSULTATION and one of our dedicated advisers will be happy to help.


Trusts & Wills are not regulated by the Financial Conduct Authority.


There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and loan amount. The FCA does not regulate most buy-to-let, second charge or commercial mortgages. The Financial Ombudsman Service is available at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.

Mortgage Circle is a trading style of Avram Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered is England No. 9781006. Registered address 157A Stratford Road, Solihull, B90 3AX.



0121 572 0675 / 0800 644 0190




157A Stratford Road, Solihull, B90 3AX