Imagine, one day, you inherit a large sum of money from a loved one’s pension (after they die). This person had heard that pensions can be handed down without inheritance tax (IHT), and so assumed that you would receive any remaining funds tax-free...

A financial plan is made up of many working parts which should all fit together seamlessly. When most people think of financial planning, they might think about investments or pensions. But these are simply the tools we use to work...