Protecting your pension benefits for your loved ones

Safeguarding your pension’s death in service benefits and securing a legacy for your loved ones is a profound financial choice. Imagine ensuring that your hard-earned pension remains shielded from potential tax challenges, such as bankruptcy or divorce, creating a resilient financial foundation for your family. At Derek Mills Wealth Consultancy, we offer an exclusive solution to empower you in this journey – our spousal trust, The Legacy Preservation Trust.

While pensions are primarily crafted to sustain your retirement, they hold untapped potential as a significant financial resource for your dependents in case of your untimely demise, potentially amounting to a substantial sum. However, the common practice of directing these benefits to a spouse or partner might inadvertently lead to Inheritance Tax (IHT) implications, potentially up to 40%.

Our spousal trust is a bespoke strategy, meticulously designed to sidestep such challenges, ensuring that your loved ones receive the full benefits without unnecessary tax burdens. In a world where unforeseen circumstances can impact financial legacies, our trust is your shield against the worst problems that may arise.

Take charge of your financial future. Contact us today, and let's create a legacy that transcends generations, ensuring your loved ones inherit the full value of your pension benefits.

This useful tool is not suitable for everyone so a thorough review of your circumstances would be required.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.

*Please note that Trusts are not regulated by the Financial Conduct Authority.

Easing the Tax Burden

"Unlock the door to financial empowerment! As a Senior Corporate Executive earning over £125,140, you're aware of the burden of sharing nearly half of your income with HM Revenue & Customs. Did you know that, between £100,000 and £125,140, you're effectively taxed at a staggering 60% for the 2023/2024 tax year?

Now, envisage a tailored financial plan designed to ease this tax load. At Derek Mills Wealth Consultancy, we specialise in crafting strategies that not only mitigate your tax liability but also pave the way for a confident financial future. During our dynamic reviews, we delve into maximizing your ISA and Capital Gains Tax allowances.

Our collaborative approach doesn't stop there – we're invested in your life goals and retirement plans. Together, we'll create a personalized financial roadmap, granting you control and confidence in navigating the complexities of your financial journey.

Don't let the tax burden weigh you down. Take action now, contact us, and let's embark on a transformative journey towards financial freedom and empowerment. Your wealth deserves a strategy as exceptional as your success.”

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount initially invested.

The levels and bases of taxation and reliefs from taxation can change at any time and are generally dependent on individual circumstances.