Our professional trustees will ensure that your life assurance trust is run in a sensitive and efficient manner, including dealing with issues such as the prompt payment of correct benefits and liaising with beneficiaries.
We can manage payments from the sponsoring employer and also ensure that benefits are paid to beneficiaries in accordance with the rules of the trust. We can also help negotiate competitive rates and service level agreements with any 3rd party trust administrator.
Funds sometimes need to be set aside (in ‘Escrow’) under the control of more than one party to be used in specific circumstances. We can act as an independent 3rd party and manage an Escrow account. In the pensions context, the account would hold monies paid by the employer. Funds would then be released to either the scheme or the employer when certain pre-agreed trigger points are reached. An added advantage of an escrow account managed by a 3rd party is that its funds will be preserved in the event of an insolvency.
We can also act as an escrow agent for non-pension escrow accounts.