Skip to content
Sample estate — demo data, no sign-up.
MFI — Insurance Policies (richer v4)
Springboard: 47-insurance-policies (pre-tax). Richer: every policy preserved + enriched (insurer, sum assured, premium, policy number, renewal, beneficiary, linked asset, upload), plus an additive sienna TAX track — a life policy written IN TRUST pays out OUTSIDE the estate (no IHT); one NOT in trust falls INTO the estate and can be taxed at 40%. Each life policy flags its in/out-of-estate status with a concrete £ figure + adviser CTA.
Dashboard › Financial › Insurance
Insurance policies
4 policies · All types shown here, also linked from their asset or property pages
🧾 Life cover & Inheritance Tax — the one thing to check
Your life cover total
£350,000
2 life policies · Aviva + Legal & General
Written in trust (out of estate)
£250,000
Aviva policy · pays free of IHT
Not in trust (in estate)
£100,000
Legal & General · counts toward IHT
IHT at risk on that policy
up to £40,000
£100k × 40% if estate is taxable
A life policy written in trust pays straight to the people you name — it never enters your estate, so there is no Inheritance Tax on it. A policy not in trust pays into your estate first, where it can be taxed at 40%. One of your two life policies is not yet in trust. computed against INHERIT · E&W Tax · reviewed: Stable
Your policies · what we know
Aviva Life Insurance
Life insurance Life
£250,000
sum assured
Policy number
AV-LF-2018-447821 From document
Premium
£42.50/month Extracted
Start date
12 March 2018
End date
12 March 2038
Cover type
Level term · single life
Trust / nomination
Held in a discretionary trust
✓ Named beneficiaries: Margaret Richards (50%), Emma Richards (50%) — via trust
✓ Written in trust — pays OUTSIDE your estateIn trust The £250,000 goes straight to Margaret and Emma without waiting for probate, and is free of Inheritance Tax.
IHT on this policy: £0. Because it is in trust, the payout never joins your estate, so none of it can be taxed.
computed against INHERIT · E&W Tax · reviewed: Stable
Death benefit: The trustees pay Margaret and Emma directly, usually within 30–60 days of a valid claim. Aviva bereavement team: 0800 068 6800.
Legal & General Life Cover
Life insurance Life
£100,000
sum assured
Policy number
LG-2021-119043 From document
Premium
£19.80/month Extracted
Start date
3 May 2021
End date
3 May 2041
Cover type
Decreasing term · single life
Trust / nomination
None recorded
⚠ No trust — payout falls into your estate and follows your will
⚠ Not in trust — pays INTO your estateIn estate The £100,000 is added to your estate value first. If your estate is over its tax-free allowance, this payout can be taxed at 40%.
IHT at risk: up to £40,000 (£100,000 × 40%). Putting this policy in trust would normally mean the full £100,000 reaches your family instead — usually free and reversible while you are alive.
computed against INHERIT · E&W Tax · reviewed: Stable
Death benefit: Without a trust, the payout waits for probate before it can be shared. L&G claims line: 0800 137 101.
AXA Home Contents
Contents insurance Contents
£45,000
cover
Policy number
HC-2024-8847 You entered this
Premium
£28.40/month
Renewal
1 September 2026
Excess
£250
🏠 Linked to 23 Maple Drive →
📄 Upload policy document to auto-extract details
AXA Buildings
Buildings insurance Buildings
£350,000
rebuild value
Policy number
BD-2024-8848 You entered this
Premium
£34.20/month
Renewal
1 September 2026
Excess
£500
🏠 Linked to 23 Maple Drive →
Petplan
Pet insurance Pet
£8,000
annual limit
Policy number
PP-2024-84521
Cover type
Lifetime
Premium
£35.60/month
Renewal
March 2027
🐶 Linked to Biscuit →
After death: Pet insurance may need to be transferred to the new guardian. Contact Petplan to update the policyholder details.
+
Add insurance policy
Type a provider name to get started. Upload the document later.
🧾 In trust vs in your estate — what the difference means
🔒
What “writing a policy in trust” means
Tax track
The payout skips your estate ✓ No IHT
A trust is a simple legal wrapper, set up by the insurer, that holds the policy for the people you name. When the policy pays out, the money goes straight to those people — it never becomes part of your estate, so it is free of Inheritance Tax and does not wait for probate.
computed against INHERIT · E&W Tax · reviewed: Stable
Most insurers let you put a policy in trust for free, and you can usually change your mind later. How a policy trust works
💲
Your Legal & General policy · £100,000
Tax track
✓ If put in trust
£0
Inheritance Tax on the payout. Your family receives the full £100,000.
⚠ Left as it is
up to £40,000
Inheritance Tax if your estate is taxable. Your family could receive as little as £60,000.
⚠ Worth doing: this is your one policy not in trust For planning
Your Aviva policy is already in trust, so it is sorted. The Legal & General policy is the one to look at — putting it in trust could keep up to £40,000 with your family instead of going to tax.
computed against INHERIT · E&W Tax · reviewed: Stable
🧾
What you can do next
Tax track
In short: £250,000 of your life cover is already safely outside your estate. The remaining £100,000 is not — putting it in trust is usually free and could save your family up to £40,000 in tax. An adviser can set this up and check it fits the rest of your estate plan.
computed against INHERIT · E&W Tax · reviewed: Stable
Tax figures are estimates computed from your estate against the open INHERIT standard's England & Wales tax rules (status: Stable, reviewed by a named reviewer) — they are guidance, not tax advice. Whether a payout is taxable depends on your full estate and how each policy is written; the £40,000 figure assumes the estate is over its tax-free allowance and the policy is not in trust. Policy details are drawn from the documents you uploaded or entered. MyFamilyInherits does not provide legal or tax advice; advisers shown are independently regulated (SRA / CIOT / STEP). You will never be charged automatically.

Built on INHERIT v2

This demo is built on INHERIT v2 — an open standard for describing an estate. We show you honestly which parts of this screen the standard can hold today, which are planned, and which are still gaps.

  • Supported now0 entriesThe standard already has a place for this today.
  • Supported now · shared core0 entriesSupported by the part of the standard shared across our brands.
  • Planned4 entriesA change proposal covers this. Where we can check the standard’s own record, we show its status.
  • Gap — needs planning0 entriesOn the screen, but no change proposal covers it yet. These still need planning.
  • Not a standard concept0 entriesPage furniture, or something we decided the standard should not hold.

4 traced entries on this screen, from two overlapping traces

Each entry comes from either the screen’s feature list or the data the screen displays. The two traces overlap, so one feature can appear twice: these are entries, not a count of distinct features.

  • PlannedIn trust pays outside the estate; not in trust falls into it

    ICP-0029 Insurance-cover model (pending in the standard)

    traced from the data this screen displays

  • PlannedInsurer, sum assured, linked asset

    ICP-0029 Insurance-cover model (pending in the standard)

    traced from the data this screen displays

  • PlannedThe 40% rate a policy in the estate can meet

    ICP-0002 IHT 36% reduced charity rate (approved in the standard)

    traced from the data this screen displays

  • Plannedinsurance.cover-model

    ICP-0029 Insurance-cover model (pending in the standard)

    traced from the screen’s feature list

The 30 change proposals this demo relies on

A change proposal (ICP) is a tracked request to extend the standard. These are the ones behind the “Planned” features across all 32 screens — and the few already adopted and built. Where the standard has a written proposal we show its status from the standard’s own record; where it does not, we say so rather than guess.

  • ICP-0001 · TT-657 — Port v1 consumer-estate surface into v2 (approved in the standard)
  • ICP-0002 · TT-658 — IHT 36% reduced charity rate (approved in the standard)
  • ICP-0006 · TT-663 — Marketplace & dealer model (tracked; no written proposal yet)
  • ICP-0007 · TT-664 — Valuation lifecycle enrichment (tracked; no written proposal yet)
  • ICP-0008 · TT-665 — Delegation, stewardship & marketplace integrity (tracked; no written proposal yet)
  • ICP-0013 · TT-672 — Condition grading (tracked; no written proposal yet)
  • ICP-0014 · TT-673 — Collector records bundle (tracked; no written proposal yet)
  • ICP-0015 · TT-674 — Legal-assurance model (pending in the standard)
  • ICP-0016 · TT-681 — Professional engagement & marketplace data model (approved in the standard)
  • ICP-0019 · TT-684 — Executor / personal-representative appointment & powers model (pending in the standard)
  • ICP-0020 · TT-685 — Distribution-logic primitives: survivorship, age-contingent, abatement, cy-près (pending in the standard)
  • ICP-0021 · TT-686 — Wishes, directives & plan-assessment primitives (pending in the standard)
  • ICP-0022 · TT-1029 — Post-death estate-administration & will-lifecycle domain (pending in the standard)
  • ICP-0024 · TT-1031 — Nomination / expression-of-wish — non-testamentary transfer route (pending in the standard)
  • ICP-0026 · TT-1033 — Free-text→structured multi-entity extraction (pending in the standard)
  • ICP-0027 · TT-1034 — Living-Monitoring change-event model (pending in the standard)
  • ICP-0028 · TT-1040 — Couple / mirror-vs-mutual wills modelling (pending in the standard)
  • ICP-0029 · TT-1068 — Insurance-cover model (pending in the standard)
  • ICP-0030 · TT-1069 — Catalogue item-import adapter (pending in the standard)
  • ICP-0033 · TT-1131 — Executor pre-death readiness facet (tracked; no written proposal yet)
  • ICP-0034 · TT-1132 — E&W IHT spouse exemption (tracked; no written proposal yet)
  • ICP-0044 · TT-1143 — Steward/authority-grant remuneration facet + paid-helper undue-influence safeguard (tracked; no written proposal yet)
  • ICP-0045 · TT-1014 — general Media/attachment primitive (tracked; no written proposal yet)
  • ICP-0046 · TT-1144 — Multi-opinion / consensus valuation shape (tracked; no written proposal yet)
  • ICP-0047 · TT-1145 — Compute faith fixed-shares (tracked; no written proposal yet)
  • ICP-0052 · TT-1172 — Funeral & farewell domain (tracked; no written proposal yet)
  • ICP-0054 · TT-1174 — Asset-side external-registry enrichment (tracked; no written proposal yet)
  • ICP-0055 · TT-1175 — Asset enrichment facets: maker/external-id (tracked; no written proposal yet)
  • ICP-0061 · TT-687 — Heir collaboration & asset-claim resolution (tracked; no written proposal yet)
  • ICP-0062 · TT-688 — Collections & asset disposition (tracked; no written proposal yet)

Checked against a pinned copy of the standard’s change-proposal register (69 proposals, standard at main@f63ca72e116d), and against the standard’s own record of what it has adopted (24 written proposals, 66 computed rules). Sample estate — demo data, no sign-up.