Inheritance planning

[Huzzah]

Good morning.

AIUI

A private pension pot can be transferred between partners on death. (Partner can continue drawdown or whatever) But a stocks and shares ISA gets cashed in then the cash is passed onto the partner.

Wondering about the advantages/disadvantages of moving tax free money from drawdown pension pot, into ISAs over the next few yrs. (68 yrs old and hoping to make it passed 75)

Is this correct?

[ChrisH72]

Your partner can potentially inherit the tax free ISA.

https://www.gov.uk/individual-savings-accounts/inh...

Looks like the account gets closed and the surviving partner gets the value of the ISA added to their allowance for that year. So they can use it to open another ISA even if they have used their allowance.

[NortonES2]

ChrisH72 said:

Your partner can potentially inherit the tax free ISA.

https://www.gov.uk/individual-savings-accounts/inh...

Looks like the account gets closed and the surviving partner gets the value of the ISA added to their allowance for that year. So they can use it to open another ISA even if they have used their allowance.

Correct just done this with 3 ISAs for FIL.

[Huzzah]

Thank you both.