SIPP provider Hornbuckle Mitchell has launched an in-house spousal bypass trust which aims to help investors reduce inheritance tax liabilities.
The trust allows investors to pass assets in their SIPP directly into a trust for their children on death, rather than the funds automatically paying out to their spouse to be subject to inheritance tax when both partners die.
"Our role is to support financial advisers who are helping clients with inheritance tax issues," says Mary Stewart, director of Hornbuckle Mitchell.
"Creating our own spousal bypass trust adds another useful tool, making it easier for advisers to put in place the pension scheme and the trust under a single umbrella and taking away the need to go to an external provider."
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