What is our bare trust?03 December 2014
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.