Lump Sum Protection

If you are paying into a pension or life insurance scheme, lump sum death benefits protection can help to ensure your loved ones receive all of the money from these policies in the event of your death. The team at JMW is highly experienced in assisting people accessing such funds, and can help to remove the potential headache of having to wait for a grant of probate or the possibility of losing out through Inheritance Tax.

To speak to our professional and approachable team and to find out more about how we can help to put your mind at ease regarding any matters related to pension and life policy lump sum death benefits protection, simply call us on 0345 872 6666 or complete our online enquiry form and we will get back to you.

Schemes and Trusts

Many of us are entitled to a lump sum payout if we die whilst still employed through a death in service scheme with our employers. It is possible to nominate this payment to be made to a specific person or to a trust on behalf of several people - even those who may not yet be alive - without any Inheritance Tax being paid on the payment.

This type of trust is often referred to as a Spousal-Bypass Trust by financial advisers as it ensures that whilst your spouse can still benefit from the funds, they do not form part of their estate for Inheritance Tax. As well as helping to save tax, a trust can:

• Ensure that money passes to your family and friends at an appropriate time
• Ensure the trustees can use the funds directly for the benefit of your beneficiaries

If you have not made a nomination in relation to the payment of your death in service benefits, then the value could form part of your estate and, as well as being subject to Inheritance Tax, there would be a delay in your loved ones getting the money at a time when they need it most.

Why Choose JMW?

The private client team at JMW has helped hundreds of clients to ensure that should the worst happen, their loved ones will receive all of the money from their pension and life insurance policies tax-free, without having to wait for a grant of probate to be issued.

We pride ourselves on our professional yet friendly approach, and will provide the guidance you need to ensure you make the right decisions to put your mind at ease that your family will be properly cared for in the future.