Using the platform to pass on assets
Donna Drewett – Senior Regional Platform Consultant, Fidelity Adviser Solutions
Recent changes to IHT legislation mean that unused pensions are expected to fall within an individual’s estate from 2027. As a result, advisers are increasingly focusing on how clients can efficiently pass on their wealth to loved ones.
The good news is, our platform supports intergenerational wealth transfers in many ways. We have a range of products and platform capabilities that can facilitate the passing on of client assets at different life stages. This includes options designed specifically for younger beneficiaries.
General Investment Accounts can be an effective way to pass on wealth to adult beneficiaries. Accounts can be held jointly, with up to four holders visible online, with additional holders supported in our back-office system. These operate on a joint tenant basis – this means that, on the death of an account holder, ownership passes automatically to the surviving account holders.
Investment Accounts can also be used as a flexible staging point for future gifting or tax planning strategies. In addition, they can be a useful investment wrapper when considering gifts into Bare Trusts for children or grandchildren under the age of majority.
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