A clients parents set up a policy with phoenix life which is now worth around £5,000. The policy pays on his death.
A flexible Trust policy was drawn up in 1992 which included a power of appointment.
The client exercised this Power of Appointment in 2009 and completed an “irrevocable appointment to X”
The client wishes to now change the beneficiary and X is in agreement.
As the policy is now held for X - can X give up or redirect the policy?