Can a client use a Bright Grey trust with a plan from another company?
We don’t recommend using the Bright Grey trust with another company’s plan. The Bright Grey trust forms have been designed with the terms and conditions of a Bright Grey plan in mind and the words we use within the trust fit with our plan terminology. To use it with another plan would be dangerous as the words we use in the trust are unlikely to be exactly the same as those used by another company. This could mean the trust is invalid or could have adverse tax consequences. If your client wants to put another company’s plan in trust, we recommend that they ask the other company or their solicitor to supply the appropriate form. For the same reasons, we don’t recommend that you use other companies’ trust forms with a Bright Grey plan.
