FundsNetwork rolls out Sipp By-Pass Trust

Fidelity FundsNetwork has launched a Sipp By-Pass Trust designed to protect a client’s Sipp lump-sum death benefits from a future charge to IHT on the subsequent death of their spouse.

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The trust can be used to hold the death benefits during the surviving spouse’s lifetime, while allowing them access to the funds. The assets are not included in the spouse’s estate when they die, which means the related IHT is avoided.

Paul Kennedy, head of tax and trust solutions, said: “There are a number of technicalities of which the adviser should be aware of, but, as with all our trusts, we have produced a very comprehensive guide."

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