PENSION BY-PASS TRUSTS
01/10/2010
A useful way of helping a wealthy couple to reduce the overall IHT bill across the two estates is to suggest the creation of a trust during lifetime to receive pension lump sum death benefits. Such trusts will be even more useful once the outcome of the summer consultation, on the IHT & other tax treatment of pension funds, is announced in the autumn budget. Meanwhile, care is needed in drafting the relevant trust because of the coming into force of the Perpetuities & Accumulations Act 2009.
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