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Letter of Wishes
SeniorSam
Posts: 1,673 Forumite
With my wife and I in our mid 70's, I thought I should review my letter of wishes on my pension funds. I should really have done this sooner as it is very important and could save our family a great deal of time once we have fallen off our respetive perches.
I had already made sure that my wife was a nominated beneficiary of my pensions, but not made arrangments in the event of us both dying close together in something like an accident.
It was easy to nominate our two children as 'default beneficiaries' so that in the event of a 'twin dive' the pension Trustees will be aware of what I wish to happen to my pension fund and act accoringly.
If you have not already thought of this, or taken action, then simply contact your pension providers, who will send you the letter of wishes form to complete. Don't just leave this to your executors to sort out.
Sam
I had already made sure that my wife was a nominated beneficiary of my pensions, but not made arrangments in the event of us both dying close together in something like an accident.
It was easy to nominate our two children as 'default beneficiaries' so that in the event of a 'twin dive' the pension Trustees will be aware of what I wish to happen to my pension fund and act accoringly.
If you have not already thought of this, or taken action, then simply contact your pension providers, who will send you the letter of wishes form to complete. Don't just leave this to your executors to sort out.
Sam
I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.
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Comments
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Good advice in general to keep your EOW forms up to date regardless of whether there will be anything to be passed on to adult children. Very much depends on the type of arrangement(s) you have.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0
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