Can a clients spouse be a named beneficiary?
Split trust and Split trust +30 Your clients spouse is automatically included as a discretionary beneficiary in the Split trust and Split trust +30 and can therefore potentially benefit. This can allow a great deal of flexibility for future planning, particularly where each partner is taking out their own plans. For example, quite often plans are taken out by a couple with the intention that should one of them die the other would receive the money to pay off their mortgage. But if both of them were to die they would like the benefits to be paid to their children free of inheritance tax. The most flexible way to do this is for each of them to take out a plan on their own life and write this under trust. Each trust should be completed so that the spouse is one of the additional trustees. Should both of the couple die at the same time, both plans are already held outside of their estates and will be free of inheritance tax. But if only one of the couple dies, the trustees have the ability
