Inheritance/SIPP

[Noslien]

Can you specify exactly what you want to happen to your SIPP money on your death e.g. I wish my wife to receive an income of £1,000 per month from the SIPP until she dies, and then the balance of the SIPP to be passed to my children?

Grateful for any guidance of links to sources of information.

Regards

Noslien

[genou]

Can you specify exactly what you want to happen to your SIPP money on your death e.g. I wish my wife to receive an income of £1,000 per month from the SIPP until she dies, and then the balance of the SIPP to be passed to my children?

Grateful for any guidance of links to sources of information.

Regards

Noslien

You would need to create a "spousal bypass trust" to achieve this. Which I suggest you google. Otherwise whoever you nominate to get your SIPP takes it with no restrictions. If you trust people, that's probably more tax-efficient than a BP trust.

As a starter : http://www.lawskills.co.uk/articles/201 ... ss-trusts/

[Hardgrafter]

I think most people would just nominate the beneficiaries, as the SIPP is written under trust.

There would need to be very extenuating circumstances for the trustees not to follow your written instructions:

https://www.youinvest.co.uk/pensions-an ... -and-death

What reasons do you have for not doing this? You can alter your expression of wishes as often as you like.

As its in trust, its outside your estate.