Advisers must rethink their estate planning strategies and offer a “tailored approach” for clients ahead of pensions becoming subject to inheritance tax (IHT) from April 2027, according to Octopus Investments business development manager Elliot Gee.
Speaking at PA360 North yesterday (2 October), Gee said the change will fundamentally alter how advisers approach conversations with clients about intergenerational wealth and succession planning. "Only 4.9% of people currently pay IHT, but it is coming up in more and more client conversations," Gee said. "The inclusion of pensions in IHT means advisers must reconsider the order of estate planning. Not everyone will want to gift all their money away or use life insurance, every client will need a tailored approach." He told delegates that many clients may now view pensions as the firs...
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