Life Policy Trust (LPT) Planning Questionnaire
This questionnaire helps us recommend the most suitable trust structure for your life insurance policy. Please answer as best you can—there are no right or wrong answers. Once I have gone through it, I'll go through my initial thoughts and see if they align with yours.
Section 1 – Client Details
Please provide your basic details so we can contact you if needed.
Full name
First Name
Last Name
Date of birth
-
Month
-
Day
Year
Date
Email address
example@example.com
Phone number
-
Area Code
Phone Number
Partner / spouse name (optional)
First Name
Last Name
Section 2 – Life Policy Information
Tell us about your life policies so we can understand how they works.
How many life policies are you considering placing in trust?
Which insurance company provides the primary policy?
Policy number (optional)
Is this a new policy or an existing policy?
New policy
Existing policy
Not sure
What type of policy is it?
Single life
Joint life first death
Joint life second death
Not sure
Who owns the policy?
Me
Me and another person
Someone else
Not sure
What is the approximate sum assured? (Please enter the amount)
Does the policy include Terminal Illness Benefit?
Yes
No
Not sure
If the policy includes Terminal Illness Benefit, would you want this payment to go to you personally if you became terminally ill?
Yes
No
Not sure / I would prefer flexibility
Does the policy include Critical Illness Cover?
Yes
No
Not sure
What is the main purpose of the policy?
Family financial protection
Inheritance tax planning
Mortgage protection
Business protection
Other
Section 3 – Beneficiaries
Let us know who you would like to benefit from the policy.
Do you already know exactly who should receive the money?
Yes – specific people
Yes – but may change in the future
Not completely sure
If you already know who you would like to receive the policy proceeds if you died, please list names and relationships.
Should each beneficiary receive a fixed share?
Yes – fixed shares
No – trustees can decide
Not sure
Do you expect more children or grandchildren to be added in the future?
Yes
No
Possibly
Would you like trustees to be able to add future family members as beneficiaries if appropriate?
Yes
No
Not sure
Are any beneficiaries currently under age 18?
Yes
No
If beneficiaries are young, should trustees be able to delay payments until they are older?
Yes
No
Not sure
Section 4 – Control and Trustee Powers
Let us know how much flexibility you would like trustees to have.
Would you prefer the distribution of funds to be fixed in advance, or flexible?
Fixed
Flexible
Not sure
Should trustees have the power to decide when and how beneficiaries receive money?
Yes
No
Some flexibility
Should trustees be able to make payments to beneficiaries based on need?
Yes
No
Not sure
Should trustees be able to delay payments if they believe it is in a beneficiary’s best interests?
Yes
No
Not sure
Are you comfortable giving trustees discretion over how funds are used?
Yes
No
Not sure
Section 5 – Beneficiary Protection
Let us know if you have any concerns about protecting beneficiaries.
Are you concerned that any beneficiary might struggle to manage a large amount of money?
Yes
No
Possibly
Are you concerned about risks such as divorce, debt, or bankruptcy affecting beneficiaries?
Yes
No
Possibly
Would you like the trust to protect funds from these types of risks where possible?
Yes
No
Not sure
Do you want trustees to have flexibility to support beneficiaries differently depending on their circumstances at the time?
Yes
No
Not sure
Section 6 – Family Structure
Understanding your family situation helps us recommend the right trust.
Which best describes your family situation?
Straightforward family structure
Blended family / stepchildren
Second marriage
Potential family disputes
Other
Do you anticipate significant changes in your family situation in the future?
Yes
No
Possibly
Would you like the trust to be adaptable if circumstances change?
Yes
No
Not sure
Do the above answers apply to any and all additional life policies you may wish to place in trust?
Yes
No
Not sure
Section 7 – Inheritance Tax Context
This helps us understand if inheritance tax planning is important for you.
Approximately how large is your total estate (including property)?
Under £500,000
£500,000 – £1m
£1m – £2m
Over £2m
Not sure
Is inheritance tax planning one of your reasons for putting the policy into trust?
Yes
No
Partly
Have you created any other trusts in the past?
Yes
No
Not sure
Have you made significant financial gifts in the last 7 years?
Yes
No
Not sure
Section 8 – Trust Simplicity vs Flexibility
Help us understand your overall preference for how the trust should work.
Which of the following best reflects your preference?
I prefer a simple trust with fixed beneficiaries
I prefer flexibility so decisions can be made later
I prefer maximum protection for beneficiaries
Not sure
Overall, which approach feels most appropriate to you?
Simple and fixed
Flexible but guided
Protective and discretionary
Is there anything else about your family or financial situation that you think we should know? (optional)
Thank you for completing the questionnaire. Your responses will help us recommend the most suitable trust structure for your life insurance policy. Typically:
• Bare Trust – when beneficiaries and shares are fixed
• Flexible Trust – when some flexibility is required
• Discretionary Trust – when protection and trustee control are important
Please note: This questionnaire is designed to guide our recommendation, but final advice will be confirmed by your adviser.
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