Wills, Power of Attorney and Estate Planning are Not just for older people.

What Is Estate Planning?

Estate planning is the process of deciding how your assets should be managed, protected, and passed on after your death. Like making a will, it helps you set out your wishes clearly so the people and causes you care about are provided for in the way you intend.

How an Estate Plan Helps

A well-prepared estate plan gives your executors and loved ones clear guidance about your wishes. It can help protect your estate, support your beneficiaries, and reduce uncertainty at an already difficult time.

• Set out how your assets should be managed and passed on.
• Help your executors understand what you want.
• Reduce the risk of confusion, delay, or family disagreement.
• Identify whether Inheritance Tax (IHT) may need to be considered.

It can also help you understand whether Inheritance Tax (IHT) may be payable. Because IHT rules can change over time, it is sensible to review your estate plan regularly.
Because IHT rules can change over time, (New Rules come in on 7Th April 2027), it is sensible to review your estate plan regularly to make sure it remains up to date.

What Should an Estate Plan Cover?

• What should happen to your property.,br> • How your savings, investments, and other assets should be managed or passed on.
• Any funeral wishes or arrangements you would like recorded.
• How your digital accounts, online assets, and important passwords should be dealt with.
• Whether you want to make gifts during your lifetime.
• Who should act for you under a Power of Attorney if you lose capacity.
• Whether life insurance policies should be placed in trust.
• Who should care for your children if you are no longer able to.

What if you run your own business?

If you run a sole trader business, have you considered what would happen if you were no longer able to manage it? Who would take over, and would anyone be able to access your business bank accounts and financial affairs?
If you are a director of your own limited company, who would take responsibility for running the business? What would happen to your shares, director's loans, employees, and the ongoing operation of the company
Estate planning is about much more than leaving gifts to loved ones. It involves putting practical arrangements in place to protect your family, your business, and your financial interests when life takes an unexpected turn. While it can be difficult to think about, it is an important part of responsible financial planning.,br> We have an in-house estate planner who is a qualified and regulated financial adviser specialising in commercial finance and business protection. He can provide guidance on:
• Sole trader business protection
• Limited company director planning
• Director share protection
• Director loan protection
• Relevant Life, cover for directors
• IHT Planning