Expressions of wishes: What's the worst that can happen?

A critical part of death benefits planning

clock • 4 min read

Caitlin Southall takes a detailed look at expression of wishes and highlights the importance of keeping them up to date...

Expressions of wishes are requests from clients to their pension provider as to how to deal with their pension when they pass away. Often pension providers will supply their own forms to complete, requesting specific instructions as to how the pension is to be distributed, and clients have the opportunity to split by asset or percentage of the overall pot. Think of them as like a will for the pension, bearing in mind that the pension will sit outside of the wider estate from a both a will and inheritance tax perspective. A client's circumstances are likely to naturally change over ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

FCA targets pension transfers and SIPPs in major review

FCA targets pension transfers and SIPPs in major review

Regulator launches review of DC pension rules

Isabel Baxter
clock 13 December 2024 • 4 min read
Why wait for targeted support? Industry can build client confidence now

Why wait for targeted support? Industry can build client confidence now

'The power of compound interest should not be underestimated'

Andrew Tully
clock 10 December 2024 • 3 min read
Time is of the essence for pension transfers, advisers say

Time is of the essence for pension transfers, advisers say

More than half highlighted that they are taking one to six months

Isabel Baxter
clock 28 November 2024 • 3 min read