Pensions and life insurance

Almost certainly your Will will not control the proceeds of your pension plan.

Instead the proceeds will be distributed at the discretion of the Pension Fund Trustees. They will act in the light of an Expression of Wish, or Nomination, which you may have filled in over a cup of tea years ago.

That seemingly trivial piece of paper may be disposing of more money than you own personally.

So, your advisor should provide you with the opportunity of ensuring that the Expression of Wish matches your Will.

At the same time he should arrange matters so as to minimise the risk that the assets will eventually be caught by the Tax Man or by Social Services. Similar applies to life insurance but often the policies are not "in Trust".

Consequently the assets may accumulate in the estate of the policyholder for tax purposes. That should be rectified if at all possible.

Getting in touch with County Wills (Northampton) Ltd won't cost you anything-

Call 01604 455073, or fill in the enquiry form. Alternatively you can email wills@wills.uk.net