Deal with your pension and Will now

From April 6th 2027 in the UK, unused defined contribution pension funds and relevant lump sum death benefits will become at risk of being considered for inheritance tax at 40% if the sum takes your estate over the relevant inheritance tax threshold.

It is important therefore to prepare for this and ensure your pension (if possible) is left to a spouse or civil partner and then (for belts and braces) rewrite your Will to include a Nil Rate Band Trust and (if relevant) a Residential Nil Rate Band Trust, so that up to £1 million can be left to beneficiaries, not just inheritance tax free, but also protected against attack from divorce or bankruptcy for example and will also not add to your beneficiaries 'estates for inheritance tax upon their own deaths if Trust Loan Notes are used by the Trustees when appointing funds according to your wishes.

For more information, give us a call FREE on 0800 668 11 64 and a free consultation can be arranged to discuss your personal circumstances further.