The final comments apparently me, left the uk 16 years ago, in the USA, retiring, who knows if I will return to the uk, but nice to know if I do it’s better than it was… But actually what I’m more interested in is the rules on pensions now being included in estates for inheritance purposes. So what I want to know is what that means if I stay in the USA and die in the USA. Will that pension now be subject to inheritance tax. And can I avoid that by setting up my son as the beneficiary of the pension. Under the old rules I was intending never using my uk private pension (as we have enough USA money) and just letting it pass to my son when I die. At the moment he’s in the USA has never lived in the uk. He gets the benefit of generous usa inheritance rules. But I worry now that money would be subject to uk inheritance because it’s money in the uk !!!
As really hoping for some news on the implications of the budget for people like us :-)
The final comments apparently me, left the uk 16 years ago, in the USA, retiring, who knows if I will return to the uk, but nice to know if I do it’s better than it was…
But actually what I’m more interested in is the rules on pensions now being included in estates for inheritance purposes. So what I want to know is what that means if I stay in the USA and die in the USA. Will that pension now be subject to inheritance tax. And can I avoid that by setting up my son as the beneficiary of the pension.
Under the old rules I was intending never using my uk private pension (as we have enough USA money) and just letting it pass to my son when I die. At the moment he’s in the USA has never lived in the uk. He gets the benefit of generous usa inheritance rules. But I worry now that money would be subject to uk inheritance because it’s money in the uk !!!