How do I ensure my wealth is passed onto my family?

Getting your affairs in order sooner rather than later could make all the difference when it comes to ensuring your wealth is passed onto your family when the time comes.

When you’ve worked hard all your life, it’s only natural to wish your pension to carry on paying out for the benefit of your spouse or family in the event of your death.

Thanks to changes in how pensions are taxed which came into force in 2015, more of your overall wealth can survive your death and provide for your loved ones.

So what’s the best course of action to ensure the best outcome?

It sounds simple, but first you must familiarise yourself with your existing pensions to ensure you know exactly what you’ve got, discover the value of them on your death and ensure each nomination is appropriate.

“If you are in a final salary scheme, your spouse is entitled to a set percentage on your death - it’s a fairly simple process,” explains Bob Hair, a wealth planning director at Cazenove Capital based in