Estate Planning for Families:
Wills, Trusts, Pensions and Tax
Estate planning is rarely a single decision. It is a series of connected choices — about wills, trusts, pensions, gifting, lasting powers of attorney and succession — each of which affects the others. For most families, the difficulty is not a lack of intention but a lack of clarity: knowing where to start, what has changed, and whether the arrangements already in place remain fit for purpose.
This page sets out the areas where families most often need structured advice, and how Wills, Tax & Trusts Ltd can help.
The Peace of Mind Audit
Most families assume that having a will in place means their estate is protected. In practice, a will addresses only part of the picture. Lasting powers of attorney, trust structures, pension nominations, gifting records and life policy arrangements all sit alongside it — and each carries its own risks if overlooked or out of date.
The Peace of Mind audit is a short, structured self-assessment designed to identify the specific areas of your estate plan that may need attention. It covers ten common planning gaps, including how pension funds are treated under the new rules, how assets are protected in blended families, the validity of existing appointments, and whether life policies are correctly written in trust.
It takes approximately two minutes to complete. Where your responses highlight areas of concern, we can discuss those in a complimentary 30-minute Peace of Mind Review.
How We Help Families
The following areas represent the most common subjects of family estate planning. Each is interconnected, and decisions in one area frequently affect the others.
Wills and Testamentary Planning
A will remains the foundation of any estate plan. For families with blended structures, business interests, or assets in multiple jurisdictions, a standard will is rarely sufficient. We draft wills that reflect the full complexity of a family's position – including letters of wishes where the reasoning behind decisions matters as much as the decisions themselves.
Trusts
Trusts serve a range of purposes: protecting assets from future claims, managing the timing of inheritance, providing for vulnerable beneficiaries, and holding life policy proceeds outside the taxable estate. We advise on the appropriate trust structure for a family's circumstances and draft the necessary documentation.
Inheritance Tax Planning
Inheritance tax planning involves understanding which reliefs apply, how thresholds interact, and how gifts, trusts and other arrangements can be used to reduce exposure over time. We advise on the full range of available reliefs, including business property relief, agricultural property relief and the residence nil-rate band.Gifts made during a person's lifetime can reduce an estate's inheritance tax exposure, but the seven-year rule means timing matters. We advise on gifting strategies — including potentially exempt transfers and gifts out of normal expenditure — and help families maintain the records their executors will need.
Pensions and the 2027 Changes
The inclusion of pension funds within the inheritance tax framework from April 2027 requires families to revisit how pension assets are held and nominated. We work alongside financial advisers to ensure pension planning and estate planning are properly coordinated.
Lasting Powers of Attorney
A lasting power of attorney for property and financial affairs and a separate LPA for health and welfare are two of the most important documents a family can put in place. Without them, obtaining authority to act on someone's behalf through the Court of Protection is a lengthy, costly and uncertain process.
What Our Clients Say
"We weren't sure if our old wills were still valid. The Peace of Mind Audit showed us exactly where we were vulnerable and fixed it."
- David & Sarah, Berkshire
"Simple, clear, and professional. They explained everything without confusing us with legal jargon."
- James, Hampshire
Discuss Your Family's Position
If you would like to discuss what the current planning environment means for your family's specific circumstances, we are here to help. Our approach is straightforward: we assess your position, explain your options, and provide advice that is practical and grounded in your objectives.
To arrange a conversation, contact us directly or book a time using the link below.