Zurich launches new individual pensions trusts

The Pensions Discretionary (2 year) Trust forces benefits to be paid within two years of death, resulting in no IHT liability. Alternatively, the Pensions Discretionary (80 year) Trust should be considered when it may not be appropriate to pay out benefits within two years of the member's death. This may happen for example where it may be advantageous to avoid the death benefits being subject to IHT on the subsequent death of the spouse or civil partner. Although this may incur an IHT liability, the lump sum can then be retained and invested inside the trust for up to 80 years and allow...