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People also ask
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What is the main document of a trust?
The most important piece of trust documentation will be the trust deed. This agreement is, essentially, what creates the trust. Outlined within the trust deed will be key pieces of information like what properties or assets will be held within the trust and who the beneficiaries are.
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Who owns the money in a discretionary trust?
The assets are 'held in trust' for the beneficiaries and, along with any payments received from them, make up the trust fund. The assets no longer belong to the settlor, nor do they automatically belong to the beneficiaries.
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Where to send AIG trust forms?
The original executed Trust Deed (or a certified copy of the original) should be sent to: AIG Life Limited, PO Box 12010, Harlow, CM20 9LG as notice of the assignment of the Policy effected by this Trust.
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What is the structure of a discretionary trust?
The Trust is established by an independent person (the Settlor) who makes a gift of a sum of money (the Settled Sum) to a person or company (the Trustee) for the ultimate benefit of nominated persons (the Beneficiaries) at some future time (the Vesting Day) under conditions which are evidenced in writing by the Settlor ...
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What is a discretionary gift trust protection?
The Discretionary Gift Trust (Investment) is a trust that allows you to make an inheritance tax (IHT) effective gift of cash, with the intention of investing into investment bonds and/or collective investments. You can also control who will benefit from the trust fund.
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What is the document of a discretionary trust?
The Discretionary Trust deed – this is the legal document that creates the trust. The settlor and the trustees must sign it. It names the parties involved, says what roles they have, and gives details of the life policy which is being put into trust.
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Who owns the money in a discretionary trust?
The assets are 'held in trust' for the beneficiaries and, along with any payments received from them, make up the trust fund. The assets no longer belong to the settlor, nor do they automatically belong to the beneficiaries.
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What is a discretionary trust form?
Protection Gift Trusts - Absolute Trust Pack. What is a Discretionary Trust? A Discretionary Trust is a legal arrangement which allows the owner of a life policy (the settlor) to give their policy to a trusted group of people (the trustees), who look after it.
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