QROPS total solutions
Up until recently, it was not possible to incorporate UK pension rights into the comprehensive asset protection, succession planning and multi-generational tax planning arrangements which were available to hold other assets.
Although foundations, trusts and other estate planning structures could hold real estate, physical assets, cash and financial assets, it was not possible to incorporate UK pension rights into these vehicles prior to A-day.
QROPS for estate planning
The structures of QROPS are such that they can provide the same estate planning benefits as any other more traditional solution.
UK pension rights can only be transferred to a QROPS that is authorized by HMRC, but depending on its scheme rules, the QROPS may be able hold all of the assets that are held in foundations, trusts and other estate planning vehicles.
Someone undertaking a QROPS transfer of UK pension rights may very well have access to comprehensive and holistic estate planning for all of their assets, at no additional cost.
QROPS now offer the means of passing on all of your assets to your chosen beneficiaries and in some cases offer a convenient way of structuring your other assets.
Another benefit of structuring with a QROPS is access to professional, objective and independent financial management services, for beneficiaries who may not always be adequately equipped for the responsibility of managing what are often very large legacies.
For more information please email us.