Death and pensions – how to avoid a high Inheritance Tax charge for your family
- On June 22, 2022
- By GrowthInvest Marketing
No one wants to think about death, but have you thought about what happens to your pension when you die. MM Wealth’s Chartered Financial Planner, Gary King explains the importance of pension nominations and how you can avoid a high Inheritance Tax charge for your family.
A nomination form (letter of wishes) enables you to tell the provider of your pension who you would like to benefit on your death. The nomination form helps to guide the pension provider with their decision making.
Your pension provider will complete their own investigations following your death and use their discretion, but they will follow the instructions in the nomination form unless there is a good reason not to.
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