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Death and pension - what to do?
poorbabe
Posts: 901 Forumite
I had a meeting with an old FA last week and the subject of wills came up. I rent, have no children and am unmarried so on that basis never considered making a will. I am 44, will be 45 in February.
I have an 'Expression of Wish' drawn up for my current employers but have done nothing regarding pension payments made with the FA's company prior to joining the company pension scheme. To be honest I'd forgotten all about it outside of the once a year statements :rolleyes:
In the event I remain single, should I make some arrangements re the 'outside' pension? What can I do? I'm likely to want to leave anything to the children of my siblings and one God-daughter. Is that possible?
The FA suggested I set up a trust of course, with his company, so the money goes where I want it. Costs weren't mentioned but I assume there is a cost for this? Are there alternatives?
Cheers and TIA
I have an 'Expression of Wish' drawn up for my current employers but have done nothing regarding pension payments made with the FA's company prior to joining the company pension scheme. To be honest I'd forgotten all about it outside of the once a year statements :rolleyes:
In the event I remain single, should I make some arrangements re the 'outside' pension? What can I do? I'm likely to want to leave anything to the children of my siblings and one God-daughter. Is that possible?
The FA suggested I set up a trust of course, with his company, so the money goes where I want it. Costs weren't mentioned but I assume there is a cost for this? Are there alternatives?
Cheers and TIA
The 365 Day 1p Challenge 2025. Member #42
0
Comments
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Pensions are a master trust so you just need to give them an expression of wish.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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