Life insurance

[Shining]

Do talk to your IP about this and get clarification. God willing you won't need to claim anyway and both live long happy debt free lives but do make sure you have all the facts before you proceed on the 15th x

[Evilmoo]

One advisor told me it would go to the creditors - another told me it would go to the surviving partner and not be touched so don't know who to believe!

[Shining]

Oh how confusing, I would try and get something in writing from your actual IP rather than a member of staff.

[Ryan]

Hi,

An option would be to place the life policy in to trust to the children or another option is to take new cover for the £59k so this would then pay the debts off and the children would be left the remaining £50k

[Evilmoo]

Thanks for the advice

I have emailed Declan from DFD to see if he can give me a definitive answer lol

[Shining]

Hope you can get this sorted with a definitive answer and move forward with your IVA x

[MelanieGiles]

Ryan provides great advice, and I really do think that a chat with an IFA of his calibre would be sensible for you. No-one could argue that you would be putting funds out of the reach of creditors by putting your life policies in trust, as the entitlement does not derive until death which would be post-IVA.

[Evilmoo]

That's a very good idea actually

Just need to find out how I would actually go about it!

[Ryan]

Hi,

If you contact me via the experts page, i can advise you what to do

[Evilmoo]

Thanks Ryan

Via your email address?

Haven't used the experts page yet lol

[kazzafunk]

Hi - contact Ryan on his email address:

info@zebramoney.co.uk

[Evilmoo]

Thanks kazza

[Ryan]

Hi,

If you email me your phone number i will give you a call this morning to go through this