Fiona Tait shares her insight on expression of wishes and death benefits in her latest article for PA. After giving a presentation on the topic at Professional Adviser's recent Retirement Planning Roadshow, she runs though the key points advisers need to make clients aware of
Pension funds receive very generous tax treatment on death, but it doesn't just happen. Without careful planning the fund could end up being paid, quite legally, to people the original member did not want to benefit or, worse, not being paid to the people they did want to have it. It is important that advisers regularly review their clients' arrangements and watch out for any issues that could allow this to happen. Things to look out for The client has over-ridden discretionary disposal Quite understandably many clients are sceptical of the expression of wishes (EoW) forms an...
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