Wealth Flow

Pension Protection

Many people overlook the planning opportunities offered by pensions because they do not form part of your Estate on death before age 75 and can be left to nominated beneficiaries, usually the Spouse, free of Inheritance Tax. 

People assume that no planning is required, but it is the inherited pension wealth that subsequently causes problems, in that it might;

  • Increase the IHT liability on second death
  • Not be available to beneficiaries, on second death, until Grant of Probate (perhaps up to two years)
  • Not reach the second generation if the surviving spouse remarries and pre-deceases the new spouse, or gets divorced with the pension wealth forming part of a settlement.

Prudent planning can avoid these potential problems and further reduce the tax liability on the death of the surviving spouse, allowing the wealth to flow down the generations in a controlled manner, as a part of your legacy.

Protected Gifting

Giving a gift is a great feeling, but seeing some of that gift disappear to someone you didn’t expect it to go to would be devastating. Friends and family dynamics can be a constantly changing environment and it is wise to plan accordingly.

Unfortunately, not everyone walks off into the sunset and lives happily ever after, they may find themselves in a position where they could lose everything. Protecting a gift when it is given to a loved one can ensure control can be maintained by trustees. 

  • Placing money or assets into a trust before gifting can protect from:
  • Divorce settlement​​
  • Protect the asset from creditors 
  • IHT liability on the death of the beneficiary. ​
  • ​Diversion of wealth flow.

The process was made easy as John did what he said he would do in the time frame he said he would do it. I’m happy I have now managed to protect my assets for a very reasonable fee. I would be very happy to recommend Legacy to all my friends and family.

Neil Patey-Smith

Free Estate Planning Guide

Learning how to protect your assets can feel like an overwhelming topic. Our free estate planning guide will help you to understand the process and how to get started.