Scottish provident trust forms 2026

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The document outlines the structure and provisions of a Gift Trust, specifically a Bare Trust or a Discretionary Trust, designed for use with policies issued by Scottish Provident. It explains the purpose of the trust in relation to Inheritance Tax, detailing the roles of the Donor and Trustees, the selection of Named Beneficiaries, and the implications of each trust type on tax liabilities. The document emphasizes that the Donor should not be a beneficiary to maintain tax effectiveness and advises seeking legal and taxation advice before establishing the trust.

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Click ‘Get Form’ to open the Scottish Provident Trust form in the editor.
Begin by filling in the Declaration section, including the date and your full name as the Donor. Ensure all details are accurate.
In the Definitions section, specify your name and address, along with any Additional Trustees you wish to appoint. Remember, at least one independent Trustee is recommended.
Choose between a Bare Trust or Discretionary Trust by initialing the appropriate box in the Choice of Trust Provisions section. This decision impacts tax treatment.
Complete the Named Beneficiaries section by listing their names and Appropriate Shares. Ensure that these total 100% and that you do not include yourself as a beneficiary.
Sign the form before a witness who must also sign. Make sure all signatures are dated correctly before submitting it back to the issuing company.

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Who has taken over Scottish Provident?

At the end of 2015, Royal London completed the rebrand of its two UK protection businesses, Bright Grey and Scottish Provident to a new Royal London protection brand. This completed the groups journey to become a single Royal London brand.

Who took over Provident mutual?

Provident Mutual Life Assurance 25 Moorgate in London Founded 1840 Defunct 1995 Fate Acquired by General Accident Successor CGU plc4 more rows

Is Scottish Provident now Phoenix Life?

We transferred the rest of the business of these companies to Phoenix Life Limited In February 2009. We transferred certain protection products from Scottish Mutual Assurance Limited and Scottish Provident Limited to Royal London in December 2008.

How long does a Scottish trust deed last?

Death within 7 years of making a transfer If you die within 7 years of making a transfer into a trust your estate will have to pay Inheritance Tax at the full amount of 40%. This is instead of the reduced amount of 20% which is payable when the payment is made during your lifetime.

Did Royal London take over Scottish Equitable?

On the Effective Date, Royal London will acquire all the rights, benefits and powers of Scottish Equitable in relation to the Transferring Policies.

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