Aviva offers to simplify estate planning for advisers

The provider has simplified its trusts and has produced sales aids and a reference guide on estate planning.

Nicholas Burton, senior manager of investment propositions for Aviva, said while changes in legislation, the Finance Act 2006 and 2008, had made estate planning more flexible, it had also made it more complex.

As a result he said it meant both consumers and advisers had shied away from the subject, he said.

Following research and in-depth discussions with advisers and consumers Mr Burton said there was an apparent need for simplification.

He said: "Some of our trusts have options which are rarely used. We have tried to strip them out and make them more simple.

"Also in terms of literature one the things that came through loud and clear, a lot of IFAs understood the basics but needed support in translating that into sales ideas."

Aviva have also produced what it says is a bible for IFAs, The Financial Adviser's Guide to Trust and Estate Planning.

Mr Burton said the guide had not been designed to be read cover to cover but acted as a reference guide which allowed advisers to clarify any points that clients may raise.

Simon Webster, managing director of Kent-based Facts & Figures Financial Planners, said that while the guides would be of use, advisers nevertheless needed to be aware of the limits of their knowledge and ensure they double checked any aspects they were unsure of.

He said: "The danger for advisers not active in this market is it makes them think it is simple and they do not necessarily do the best thing for the client and that is what I am most concerned about."