Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
Pensions can be an incredibly efficient way of maximising the inheritance your loved ones will receive after you pass away, greatly mitigating your inheritance tax liability and providing an element of flexibility for intergenerational estate planning. In this article, we look at some of the key benefits of using pensions as part of the estate planning process.
Murray Beith Murray Private Client Partner, Peter Shand, writes in The Scotsman today. Read the full article below, republished by kind permission of The Scotsman:
It can be difficult to think of a time when you are no longer around, but it is essential that you prepare your loved ones as part of the estate planning process. Raising your wishes with your family and friends can make it much easier for them when the time comes and can allow you to feel confident that your affairs are settled. In this article, we look at why you need to talk about these uncomfortable topics and how to make sure it is as straightforward as it can be.
If you have worked hard throughout your life to save for retirement, you want to be sure that should anything happen to you; your hard-earned savings can benefit your loved ones. Pensions should be a crucial part of estate planning as they are often some of the most valuable assets we own. In this article, we look at ways to pass on your pension, how to make pension contributions for loved ones, and why contributing to your own pension could be an effective form of estate planning.
Family relationships can be challenging, and parents and children or spouses may become estranged for a wide variety of reasons. As a result, you could be wondering whether they may still be able to inherit from your estate. In this article, we look at what is known in law as ‘legal rights’ and how they might apply in different circumstances.
