What is our bare trust?

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.