You may be a member of a pension scheme that will pay out a lump sum amount should you die whilst in service with your employer. While such a sum should be payable currently free of inheritance tax to the recipient, if that person is your spouse, it is good practice to consider whether or not this sum can be removed from your spouse’s estate so that it is not part of his or her own estate, exacerbating your surviving spouse’s own future inheritance tax position, but retained in a separate fund for the benefit of your spouse and children.

We can assist you to create a receptacle trust to receive the death-in-service payment on your death benefiting your spouse and children.