Julie Hutchison looks at how the changing retirement landscape affects estate planning
There have been some welcome changes in the area of pension death benefits and inheritance tax (IHT). The IHT uncertainty for those deferring taking their benefits has now gone, as has the complexity of the IHT charge on alternatively secured pensions (ASP). The new drawdown death benefit rules also present a fresh opportunity to cascade pension funds to future generations. The omission to act rules will no longer apply to pension benefits, for clients who die after 6th April 2011. This means IHT will no longer be charged on those estates where the deceased had deferred taking income or ...
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