LV= unveils Trustbuilder

LV= has launched a free online tool to help advisers write new and existing life policies in trust from any provider.

LV=’s Trustbuilder tool features an online decision tree to help advisers decide whether a trust is needed and which is the most suitable trust for clients.

Advisers can then input key details online, such as the appointed trustees and beneficiaries, and produce pre-populated forms. Advisers can also download a guide to trusts and look at useful information ahead of talking to clients.

A recent LV= survey among IFAs writing life policies found that 23% avoid writing policies in trust because they don’t understand them or aren’t confident explaining trusts to clients.

Writing a life policy in trust means clients can choose exactly who receives the proceeds of their policy and ensures that the proceeds aren’t subject to probate. A trust can also be used for inheritance tax planning purposes.

Mark Jones , LV= head of protection, said: “Our new online tool makes it simple for advisers to identify which trust is most suitable