Estate planning

Inheritance tax is often described as a tax on the unprepared, and we are definitely seeing a growing focus on estate planning and intergenerational wealth transfers. The changes to pension death benefits and ongoing uncertainty around inheritance tax have prompted many clients to review how wealth will pass to the next generation and start planning much earlier.

We are also having far more conversations about retirement lifestyle planning. Clients are increasingly asking not just whether they can afford to retire, but how early they can retire and what level of income they can realistically sustain. The focus has shifted from simply building wealth to understanding how and when it can be used.

Capital gains tax is another growing concern. With allowances cut and tax rates higher than they once were, more clients are exploring options such as SEIS and especially EIS. One of the attractions of EIS is the ability to defer capital gains tax by making a qualifying investment, potentially

Yes, we are seeing the same shift. Clients are no longer looking at financial planning in isolated boxes. Retirement, estate planning, tax efficiency and even relocation are now part of the same conversation.

The biggest change is urgency. People are not just asking, “will I have enough to retire?” They are asking, “how do I protect what I have built, pass it on sensibly, and avoid my family being forced into rushed decisions later?”

Inheritance tax, capital gains tax, pension planning and intergenerational wealth transfers are becoming much more emotional conversations. Clients want structure, but they also want control, flexibility and clarity.

For those considering moving abroad, the key is not to make emotional decisions based purely on tax. Residency, pensions, property, estate planning and advice regulations all need to be reviewed together. Cross-border planning can save money, but poor planning can create expensive mistakes.

Clients are also keen to discuss retaining wealth within the family as part of their gifting strategy. Giving large gifts to their children only for them to end up elsewhere upon divorce appears to be a greater concern.

Estate planning and intergenerational wealth transfer have become noticeably more prominent in client conversations, particularly as families look to pass wealth down efficiently and with purpose. The trend of clients relocating abroad is not one that I’ve experienced but if I did I’d navigate it carefully. It introduces cross border considerations around residence, domicile, pension treatment and double taxation, so I’d work closely with clients and, where appropriate, specialist colleagues to ensure plans remain robust across jurisdictions.

The research highlights the need for holistic financial planning for clients, as retirement planning, supporting children get on the property ladder, Estate and IHT planning all interact. These need to be considered with one plan, that can flex as circumstances change and underpinned by Cash Flow modelling.

We regularly speak to new clients who have explored one area in isolation, but it has a knock on impact and unintended consequences on other areas. For example, gifting significant sums into trust or to children, but this has left individuals without sufficient income generating assets for retirement.

With the change in April 2027 with pensions falling into the estate for IHT , having a joined up approach is even more important.

We have seen HNW individuals who are more internationally mobile, explore their options and in some cases take he steps to move abroad, although some are finding the grass is no necessarily greener in other jurisdictions.