Flexible Trust. (Settlor as trustee with optional survivorship clause) Your questions answered. What is a trust? What is a Flexible Trust?

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1 Flexible Trust (Settl as trustee with optioal survivship clause) Your questios aswered Uderstadig trusts ad their implicatios ca be pretty complicated. You should always get advice from your legal adviser befe settig up a trust. What is a trust? This is a legal arragemet set up by a perso group of people to look after somethig (such as a life isurace pla, a property a ivestmet) util the time whe the cotets of the trust are give to someoe else. A trust ows whatever is put i it ad looks after the cotets util they are due to be give out. So you might set up a trust to give a gift to someoe i the future, f example, after you die. Or maybe your gift is to a child ad you wat to make sure they re old eough to use it wisely. To set up a trust, three groups of people are eeded: 1. The settl is the perso who sets up the trust ad puts their gift ito it. Oce a gift is put ito trust the settl o loger ows it. There ca be me tha oe settl if the gift beig give away is owed joitly. 2. The trustees are the people resposible f lookig after the cotets of the trust f the perso people who will evetually get them. The trustees esure that the cotets are give out as the settl wated them to be. The settl will be a trustee, ad mally choose at least oe other perso too. This allows the settl to keep some cotrol of the cotets of the trust, eve though they do t ow them ay me. 3. The beeficiary will receive the cotets of the trust. Oe me beeficiaries ca be chose. It may be possible f the trustees to chage the beeficiary, but this depeds o the type of trust. The settl ca ever be a beeficiary, but trustees ca. Why would I set up a trust? Nmally, someoe sets up a trust to make sure that the trust assets: are paid to the right perso ca be paid out quickly, ad are paid tax efficietly (the cotets of the trust are t mally icluded i the settl s estate, which meas that iheritace tax wo t apply o their death). Structure of a trust Settl makes a gift to the trust THE TRUST Beeficiaries receive the cotets of the trust What is a Flexible Trust? Trustees look after the cotets of the trust A flexible trust gives the trustees some flexibility to choose who will beefit from the trust assets, ad how much they ll get. Whe you set up the trust, you ame all of the people that you wat to beefit from it i the future. This ca be groups of people, f example, childre gradchildre. Or you ca ame specific idividuals. This wide group of beeficiaries is called potetial beeficiaries. From these potetial beeficiaries, you ame the perso people that you would wat to beefit from the trust assets if they were to be paid out straight away. This perso people are called the default beeficiaries. You must also decide how you wat the trust assets to be split betwee the default beeficiaries. F example, the default beeficiaries could be three childre i equal shares. The trustees have the power to chage the default beeficiaries to ay of the people amed as potetial beeficiaries. They also have the power to chage how the trust assets are split betwee them. We ve explaied this i me detail i What chages ca trustees make? o page 3. 1 Flexible Trust (Settl as trustee with optioal survivship clause)

2 Whe ca I use a Flexible Trust? You could use a flexible trust if you: kow all the people you wat to receive the cotets of the trust whe you set it up (f example, your widow widower, childre, gradchildre, mother, father, brothers sisters) kow who you wat to beefit from the trust uless circumstaces chage, ad wat the optio to chage who will actually beefit from the trust if thigs do chage i the future. But remember, you ca t add ew potetial beeficiaries oce the trust has bee set up. Ad you must select trustees that you ca trust to make fair ad reasoable decisios about who should beefit from the trust. F these reasos, a flexible trust is t right f everyoe. You should always get advice from your legal adviser befe settig up a trust. What ca I place ito trust? Nmally a flexible trust is used f life protectio, which will pay out a lump sum whe the settl dies. But you ca use it f other thigs too, such as a ivestmet bod. As log as you re the pla ower, you ca place a ew life protectio pla bod ito trust whe it starts. Or you ca put a existig oe ito trust. A flexible trust is suitable f both sigle life ad joit plas. What should t be put ito trust? You should t put aythig ito trust that you wat to use beefit from i the future. F example, a icome protectio pla will pay a icome if you ca t wk because you ve had a accidet are ill. So you would wat to have the icome from the pla to replace lost icome from your job. If you put the pla ito a trust, the icome would be paid to the beeficiaries istead. Also, if you put a ivestmet bod ito trust you wo t be able to take ay moey out of it at a later date. You wo t be able to receive a icome from it either. Ay icome withdrawals will be paid to the beeficiaries. Ca I keep cotrol of my assets? Oce you put somethig ito trust you do t ow it ay me the trustees do. So if you wat to keep some cotrol over what happes to the cotets of the trust, you should appoit yourself as a trustee. F example, if you put a life protectio policy ito trust, ad you wat to icrease the cover later o, we ll oly be able to do this with agreemet from the trustees, ad we ll sed details of the chages straight to them. Our draft flexible trust deed automatically makes you a trustee, so that you still have some say over what happes. Ad do t fget, oce you ve gifted somethig to a trust, you ll o loger be able to beefit from it. Why should I appoit me tha oe trustee? If all the trustees die befe the trust cotets are paid out, there could be a delay i gettig the moey quickly to the people who eed it. So it makes sese to appoit at least two trustees. As the settl you will be a trustee, ad you should appoit at least oe other perso you trust too. What chages ca trustees make to the trust? The trustees have the power to chage the default beeficiaries if they wish. They ca choose ay of the potetial beeficiaries to become the default beeficiary ad beefit from the trust assets. They also have the power to chage how the trust assets are split betwee default beeficiaries. The advatage of givig trustees these powers is that if circumstaces chage, the trust ca be chaged to make sure it s still effective. Example Ia ad Jaye live together ad have a so, Simo, who is eight years old. Ia takes out life cover to help protect his family fiacially if he dies. He wats to leave the moey to Jaye. But if she dies befe he does, he d like it to be kept f Simo util he s old eough to receive it. Ia uses a flexible trust, ad ames both Jaye ad Simo as potetial beeficiaries. Jaye is the default beeficiary. But if she dies befe Ia, the trustees ca chage the default beeficiary to Simo. The moey will the be held i trust f Simo util the trustees pay it out to him. Imptat: if the trustees wish to make chages to the trust they should cotact us so we ca supply the crect fms. Please do t make chages by alterig the igial trust deed as this could ivalidate your trust deed. Whe ca the trustees make chages to the trust? The trustees ca oly make chages to the trust while the settl is alive, withi 24 moths of their death. If the trust asset is a life assurace pla the the death of the perso isured determies how log the trustees have to make chages to the trust. (The perso isured ad the settl are t always the same perso). After this, the default beeficiaries will become the legal owers of the trust property ad the way that assets are split betwee them ca t be chaged. What is a survivship clause? A survivship clause allows a survivig settl to beefit from the proceeds of a trust if they survive 30 days from the death of the first settl to die. If both settls die withi 30 days of each other, the the trust property reverts to the beeficiaries as detailed i the trust. F example, Darre ad Holly are married with two childre. They have take out a joit life first death life isurace policy to give them some fiacial security, should either of them die. But they re cocered about the potetial iheritace tax liability o their joit estate, if they died at the same time (f example, i a car accidet). By icludig the survivship clause withi the trust, Darre ad Holly ca esure that if they both die together, the lump sum paid out will be held i trust f the beefit of their childre, ad ot fm part of their estate f iheritace tax plaig. But if oe of them survives the other by 30 days, they ll receive the moey to help suppt their family. If you re usure whether the survivship clause is right f you, please speak to your fiacial legal adviser. 2 Flexible Trust (Settl as trustee with optioal survivship clause)

3 Whe ca I use a survivship clause? The survivship clause is iteded f use oly i specific circumstaces. Two pla owers (we call this joit settls whe we re talkig about the trust) ad either a joit life first death life isurace policy, a sigle life isurace policy (uder our Flexible Protectio Pla oly). You should t iclude a survivship clause f ay of the followig: Sigle settl trusts (whether the cover is sigle life joit life). Savigs plas. Ivestmet bods. Please ote that you ca use this trust with without the optioal survivship clause. How do I add the survivship clause to my trust? The survivship clause is a opt i optio. This meas that you actively eed to select this if you wat it to apply. We ve explaied how to do this i How to complete this Flexible Trust later o. Please ote that you ca oly choose to iclude the survivship clause whe you set up your trust. You caot add this at a later date. Ad if you add the survivship clause by mistake, you wo t be able to chage it later o. Will iheritace tax apply? Maybe, it depeds o whether your gift is exempt ot. Premiums you pay f a life isurace pla held i trust will usually be exempt, because the premiums are paid from your mal icome. Exempt gifts are t subject to iheritace tax (IHT). But, if you put somethig of value, like a ivestmet bod, ito trust it s ulikely to be exempt. This meas that IHT could apply whe you make the gift, o every teth aiversary of the trust, ad whe aythig is paid out from the trust. The amout of IHT payable will deped o the value of this gift ad ay other similar gifts you ve made (to trusts idividuals) i the last seve years. Also, if you die withi seve years of makig the gift, the amout you gave away will be cosidered whe calculatig IHT o your estate. To make sure you uderstad how IHT will apply to your gift, you should get legal advice befe you set up a flexible trust. Is there ay iheritace tax to pay whe trustees chage the default beeficiary? No, there is t. Is there ay iheritace tax to pay if a beeficiary dies? No, as the trust assets are t legally owed by ay of the beeficiaries. So if moey has t bee paid out from the trust, it wo t be icluded i ay beeficiary s estate whe they die. Who s resposible f payig the iheritace tax? Nmally, the trustees are resposible. They ca use the trust cotets to pay it. I some circumstaces the settl ca pay ay IHT due. This usually wks out to be me expesive though. Do I eed to tell ayoe about my gift? You might have to tell HM Reveue & Customs (HMRC). This will mally oly be ecessary if the gift you make to a flexible trust, together with ay other similar gifts, is me tha 80% of the il rate bad. F example, if you gifted 150,000 ito a flexible trust i August 2012, ad the gifted aother 150,000 ito a separate flexible trust i May 2014, you d have to rept the secod gift. This is because the total amout you ve give away i the last seve years ( 300,000) is me tha 80% of your il rate bad (which is 325,000 f 2014/15 to 2017/18). If this is the case, you must tell HMRC withi 12 moths of makig the gift. You ca get all the fms you eed, ad me ifmatio about whe you eed to rept your gifts, from the HMRC website. If you do have to rept your gift, the the trustees will eed to complete returs at every teth aiversary, ad whe moey is paid out from the trust. They ll have to do this eve if o IHT is payable. How does the survivship clause affect iheritace tax o a life isurace policy? The survivship clause is cosidered i legal terms as a reversioary iterest. This meas that you retai a iterest i the trust property. If oe settl survives the other by 30 days the amout of cover is paid to the trustees f the beefit of the surviv. The amout paid out is ot icluded i the deceased s estate f iheritace tax purposes. However, it will fm part of the survivig settl s estate o their death. If both settls die withi 30 days of each other the amout of cover is paid to the trustees f the beefit of the beeficiaries. The amout paid out is t icluded i either of the settls estates f iheritace tax purposes. Will icome tax apply? This depeds o what you put ito trust. F gifts such as life protectio that oly pays out o death, icome tax wo t apply. But it could apply to some other types of gift, such as a ivestmet bod. You should get legal advice to fid out if icome tax could apply. Flexible Trust (Settl as trustee with optioal survivship clause) 3

4 Who s resposible f payig the icome tax? Nmally, the trustees are. They ca use the trust cotets to pay it. Who makes the claim? The trustees should make a claim o the policy as soo as they ca after a settl dies ( both f joit life secod death policies). We ll always pay the amout of cover to the trustees. F a life isurace claim (where the survivship clause does t apply) the trustees will hold the moey accdig to the trust rules ad provisios. F a life isurace claim (where the survivship clause applies) the trustees should keep the moey i trust util the 30 day period has passed. If the survivig settl is still alive, the trustees should the pay the amout of cover to him her. If ot, the moey will become trust property ad the trustees must follow trust rules ad provisios to make sure that the beeficiaries beefit. I live i Scotlad, ca I use this Flexible Trust? Yes, you ca. Scots law will apply to this trust if the address of each settl is i Scotlad whe the trust is created. Uderstadig trusts ad how they re taxed ca be quite complicated. We ve oly outlied the basics here. You should always get advice from your legal adviser befe settig up a trust. This explaatio of trusts ad taxatio is based o our curret uderstadig of legislatio. Please remember that this could chage ad taxatio always depeds o your persoal circumstaces. How to complete this Flexible Trust This Flexible Trust ca be used oly with life isurace plas ad ivestmet bods. It s very imptat that you fill i this trust deed crectly. The ext few pages explai how to do this step by step. If you re ot sure how to complete the deed please ask your legal adviser to help you. Page 1 The date, ad settl ad trustee details Date If the pla you re puttig ito trust has t started yet, you do t eed to date the trust deed we ll do this f you. If you re puttig a existig pla ito trust, you should date the trust deed o the date it s siged. Settl The pla ower details must be added. The pla ower will be the settl. If the pla is held i joit ames, you ll both be pla owers ad settls. You must add your full ames ad curret addresses. Trustees The settl ( settls) will automatically become trustees. We ll always sed crespodece to the settl as a trustee. If you wat to add additioal trustees, you should ame them here. You should have at least two trustees icludig the settl. Do ot date If you re usig the trust f a ew pla leave this blak. If it s f a existig pla, add the date you complete the declaratio o page 4 of the trust deed. Flexible Trust (Settl as trustee optioal survivship clause) This declaratio of trust is made o 20[ ] Betwee 1: (Full ame of fi rst pla ower) of (address of fi rst pla ower) ad (Full ame of secod pla ower) of (address of secod pla ower) (together called the settl ) Ad 2 (if appoited) (Full ame of fi rst additioal trustee) of (address of fi rst additioal trustee) Settl Add your ame ad address here. Additioal trustees Add the ame ad address of each additioal trustee you ve chose. ad (Full ame of secod additioal trustee) of (address of secod additioal trustee) ad (Full ame of third additioal trustee) of (address of third additioal trustee) ad (Full ame of fourth additioal trustee) of (address of fourth additioal trustee) (together called the additioal trustees ) Backgroud The settl ows the plas listed i schedule III. The settl declares that these plas will be held i trust f the beefi t of the persos listed i schedules I ad II i the way set out i this deed. 4 Flexible Trust (Settl as trustee with optioal survivship clause)

5 Page 2 Details of beeficiaries ad trust assets Survivship clause If you wat the survivship clause to apply to the trust, please tick the box above 3. Schedule I the potetial beeficiaries Make it clear who you might wat to beefit from the trust i this sectio. You ca do this by addig either: the full ame of each potetial beeficiary (icludig their maide ame f married wome), f example James Smith the relatioship betwee you ad the beeficiaries, f example all my childre Schedule II the default beeficiaries You should say who you wat to beefit from the trust if the moey from it becomes payable immediately. Do t fget, the trustees have the power to appoit away from the default beeficiaries you ame here, to ayoe else listed as a potetial beeficiary. They ca also chage the proptio of the trust assets that each perso gets. If there s me tha oe beeficiary you ll eed to be clear about the proptio of the trust assets each is etitled to f example, upo trust f all of my childre i equal shares. If you do t give a share etitlemet here, the trustees will assume that the assets are to be split betwee the default beeficiaries i equal shares. Survivship clause Tick here to apply this clause to your trust Beeficiaries Cofirm who will beefit. This deed witesses: 1. I this deed the wd trustees meas the settl ad additioal trustees ( ay future trustees if there are chages). The wd trustee meas ay oe of them. 2. The settl declares that the plas listed i schedule III will be held i trust. The settl trasfers these plas ad ay moey payable from them to the trustees to hold i trust i the way set out i this deed. Please tick here if you wat the survivship clause detailed i [3] ad [4] to apply to this trust. Please ote that you ca oly choose this optio whe you set up the trust - you ca t add this later o. 3. [The trustees declare that they will hold the trust property o trust f the survivig settl absolutely, if he she is alive 30 days after the death of the first settl to die.] 4. [If the survivig settl is ot alive 30 days after the date of death of the first settl to die] the trustees declare that they will hold: the plas listed i schedule III ay moey payable from them, ad ay ivestmets ad other assets bought usig pla moey ( trust property ) o trust f oe me of the persos listed i schedules I ad II. The trustees will use their discretio to decide who will beefit. They will cofirm this by sigig a deed, (which may be fixed chageable), at ay time, but o later tha 24 moths after either: the date the perso whose life is isured dies, the date the secod perso isured (if there is oe) dies. 5. The trustees may sig a deed deeds which, uder clause 3, do ot iclude all the trust property. If this happes they will cotiue to hold whatever is left o trust f the persos listed i schedule II i the shares set out there. If o shares are set out, the whatever is left will be held i equal shares f each of them. 6. We cofi rm that this deed is withi categy N of the Schedule to the Stamp Duty (Exempt Istrumets) Regulatios IN WITNESS of this the settl ad the additioal trustees have siged this deed i frot of the witesses o the date which appears o the first page of this deed. Details of these witesses are set out below. Schedule I Potetial beeficiaries (persos who could potetially beefi t from the trust property) 1 Ay widow widower of the settl (but ot if she he is a settl of this deed too). 2 Ay civil parter of the settl immediately pri to death (but ot if she he is a settl of this deed too). 3. Ay child gradchild of the settl. 4. Ay brother sister of the settl, 5. Ay perso listed i schedule II who is ot already metioed i this schedule I. 6. Ay other perso listed below. (together called the potetial beeficiaries ) (Add the full ame of ay perso that you may wat to beefi t from trust property ow i the future, who is t icluded i 1, 2, 3 4 above) Schedule II Default beeficiaries (People who will beefi t from the trust property uless the trustees choose other beefi ciaries from schedule I) Full ames Share etitlemet (together called the default beeficiaries ) (Add the full ames of the people you would wat to beefi t from the trust property uless the trustees choose other beeficiaries from schedule I, spellig out their shares clearly. If share etitlemet is t cofi rmed here, the trustees shall assume equal shares f each default beefi ciary.) 2 Flexible Trust (Settl as trustee with optioal survivship clause) 5 Flexible Trust (Settl as trustee with optioal survivship clause)

6 /12 Page 3 Assets ad provisios Schedule III the trust assets Details of the life isurace pla ivestmet bod that will be owed by the trust must be specified here. The details that should be added are: the pla umber the ame of the compay that provides this pla, ad the date the pla starts If the pla bod to be held i trust has t started yet you ca leave this sectio blak, ad we ll fill it i oce the details are kow. (Note: If you hold a Flexible Protectio Pla with us please make sure you add the policy umber f the idividual policy you re placig i trust - ot the overall pla umber). Trust assets Add the pla umber ad start date (if you kow it) of the pla you re givig away. Trust provisios Schedule III Plas Pla policy umber(s) With (ame of compay) Start date (together called the plas ) (Add details of each pla which will be held o trust.) Schedule IV Trust Provisios 1. This trust will carry ay icome geerated by the trust it meas that the trustees have o me liability to property. The trustees ca: that perso pay this icome to f someoe else, ii) led all part of the trust property to ay oe me of the persos listed i schedules I ad II. pay apply the icome f the beefi t of the persos The trustees ca choose whether to charge iterest who would be etitled to the trust property. paymets, ask f security ad apply other coditios F a beefi ciary uder the age of legal capacity iii) recover, receive give valid receipts f all moey (which is 18 i Eglad ad Wales, ad 16 i Scotlad), due to them uder ay of the plas. Ad oce they ve the trustees ca: received paymets due i full, to discharge the compay that provided the plas. Oce discharged, pay apply a suitable amout of the icome the compay will have o obligatio to make sure the to that perso trustees deal properly with the trust property use the icome to pay f their maiteace, (iv) delegate some all of their powers to ay perso educatio beefi t, ad (but ot to those listed i clause 3) to deal with ay keep ay surplus icome i the trust f them of the trust property (but ot the powers to delegate util that perso reaches the age of legal capacity. i this clause iv) Sectio 31(1)(i) of the Trustee Act 1925 will ot apply (v) to employ ay perso to act as a aget f them to this deed. The wds oe half i sectio 32(1)(a) (but ot those listed i clause 3). Ay fees payable to will be deleted. the aget ca be paid out of the trust property. If they do this, oe of the trustees will be liable f ay loss 2. The statuty power of appoitig removig trustees which happes as a result of the fraud egligece is chaged. of ay aget appoited i good faith by them. This The settl has the power to appoit ew further trustees, applies eve where the trustees could have acted f ad ca remove existig trustees without givig a reaso. If themselves without eedig a aget there are two settls ad oe has died, the survivig settl (vi) where a beefi ciary is uder the age of legal capacity. has these powers. If all the settls have died the, trustees legally caot receive moey f his her beefit, have these powers. to pay trasfer ay capital icome which is f 3. The trustees may ot use their discretios powers uder that perso s beefi t to their paret, guardia ay this trust ay other powers they have by law, to beefi t: other perso they decide is suitable. Whe a paret, guardia other suitable perso accepts moey o the settl behalf of ay such perso, it meas that the trustees have o me liability to that perso the settl s wife husbad (viii) chage, remove add to the terms of this trust at the settl s civil parter ay time to allow them to carry out their duties ad exercise their powers uder the trust. They ca do i ay way. this usig a deed siged by all of them. 4. The trustees have the powers set out below i additio to all 5. The trustees will ot have to keep the plas i fce powers give to them by law. to restart them if they ed because premiums have ot a) To ivest all part of the trust property i ay kid of bee paid. They will ot have to replace them with ew ivestmets. These ivestmets may geerate icome, plas either. but do t have to. The trustees should make ivestmet decisios takig the same care as if the trust property 6. Ay trustee who is a solicit other perso providig was their ow. professioal advisy services may charge f: b) To brow moey usig the trust property as security f costs icurred ay reaso, icludig me ivestmet. busiess trasacted c) To use their discretio to: time spet, ad i) pay all part of the trust property towards the acts doe advacemet, maiteace, educatio beefi t of o the istructios of the trustees. Charges ca be paid f ay perso who has the right to have the trust icome out of the trust property. This does ot apply if the trustee is paid to them, icludig the paymet of iheritace also the settl, the settl s wife husbad, the settl s tax. Whe a paret guardia accepts moey o civil parter. behalf of ay perso uder the age of legal capacity, Flexible Trust (Settl as trustee with optioal survivship clause) 3 Schedule IV trust provisios This page sets out the details of how the trust will wk, icludig the powers held by the settl ad the trustees. You do t eed to add ay details to this page. Scots law will apply to this trust if the address of each settl is i Scotlad. We ll sed details of the plas i the trust to the settl as a trustee, uless aother aget is give i sectio ie. Page 4 Sigatures 7. This declaratio of trust is subject to the laws of Eglad ad 8. By sigig this deed the trustees accept their appoitmet Wales uless the address ( both addresses) f the settl as trustees. Where Scots Law applies, the trustees request is i Scotlad, whe this trust shall be subject to Scots Law. that the plas be delivered to them at the address f the settl set out i this deed, (uless they wat them deliverig to their omiated aget, whose details are set out below). The settl ( settls) ad additioal trustees must all sig ad date the trust deed. Each sigature must be witessed by a idepedet third party. The witess must sig, ad give their full ame ad address too. Settl You should sig here, ad have your sigature witessed. Name of aget Settl(s) Siged as a deed by the said First settl ad trustee Name Sigature I the presece of Witess to first settl ad trustee Name Sigature Siged as a deed by the said Secod settl ad trustee Name Sigature I the presece of Note: the perso you ask to witess sigatures should be idepedet ad ot ivolved i the trust. So you ca t witess each others sigatures, ad ayoe who is a beeficiary a potetial beeficiary should ot be asked to witess sigatures. Trustees Each trustee should sig here, ad their sigatures should be witessed. Witess to secod settl ad trustee Name Sigature Additioal trustees Siged as a deed by the said First additioal trustee Name Sigature I the presece of Witess to first additioal trustee Name Sigature Siged as a deed by the said Secod additioal trustee Name Sigature I the presece of Witess to secod additioal trustee Name Sigature Siged as a deed by the said What happes ext? Third additioal trustee Name Sigature I the presece of Witess to third additioal trustee Name Sigature Oce you ve completed the trust deed, please sed it to us so that we ca update our recds. We ll retur the igial documet to you, ad you should keep it i a safe place with the other documets you have which relate to the pla. Siged as a deed by the said Fourth additioal trustee Name Sigature I the presece of Witess to fourth additioal trustee Name Sigature 4 Flexible Trust as trustee with optioal survivship (Settl clause) If you wat to cash i, cacel make chages to the pla after you ve put it i trust, we ll oly be able to take istructios to do this from the trustees (as they re the legal owers of the trust assets). The trustees may eed the igial trust deed whe they make a claim to prove that they re etitled to do this. So it s imptat you keep i touch with your trustees, ad let them kow where the igial trust deed is kept. Liverpool Victia Friedly Society Limited: Couty Gates, Bouremouth, BH1 2NF LV= ad Liverpool Victia are registered trade marks of Liverpool Victia Friedly Society Limited (LVFS) ad LV= ad LV= Liverpool Victia are tradig styles of the Liverpool Victia group of compaies. LVFS is authised by the Prudetial Regulatio Authity ad regulated by the Fiacial Coduct Authity ad the Prudetial Regulatio Authity, register umber Registered address: Couty Gates, Bouremouth BH1 2NF. Tel: /14 Flexible Trust (Settl as trustee with optioal survivship clause) 6