What is our bare trust?

For protection policies only

With our Bare trust(Opens new window), all the benefits under the policy are held on trust for the named beneficiaries. Our bare trust isn’t a split trust. It is worth bearing in mind that under the terms of our bare trust, neither the named beneficiaries nor their percentage share of entitlement can be changed at a later stage. If the settlor’s family circumstances may change in the future a flexible trust may be a better option.

Trusts establish legal rights and entitlements and might have material financial and tax implications for the Settlor, Trustees and Beneficiaries. Aegon UK is not authorised to provide legal advice, so you should take your own legal advice before setting up a trust, to make sure that it meets your requirements. Our trusts have been drafted for use by UK domiciled individuals.