The Four Questions Estate Planning Answers
- Who gets my assets when I die? — Your Will
- Who makes decisions if I lose capacity? — Your LPAs
- How much tax will my family pay? — IHT planning
- How do I protect assets for future generations? — Trusts
The Estate Planning Checklist
| Action | Who needs it | Cost |
|---|---|---|
| Write a Will | Everyone over 18 | From £89 |
| Set up LPAs | Everyone — especially over 50 | From £89 each |
| Review IHT exposure | Estates over £325,000 | Bespoke |
| Consider a Trust | Blended families, homeowners, larger estates | From £300 (solicitor) |
Step 1: Write Your Will
A Will names your executors, beneficiaries, and guardians for minor children. Without one, the Intestacy Rules apply — which may distribute your estate in ways you never intended. 60% of UK adults have no Will.
Step 2: Set Up Lasting Powers of Attorney
A Will protects your family when you die. An LPA protects them — and you — while you are alive. Without one, your family must apply to the Court of Protection if you lose capacity — a process costing £1,000–£3,000 and taking 6+ months.
Step 3: Review Inheritance Tax
The IHT nil-rate band has been frozen at £325,000 since 2009 and will remain frozen until April 2031. Rising property values mean millions more estates face 40% tax above the threshold.
Step 4: Consider a Trust
A Protective Property Trust can shield your share of the family home from care home assessment. A Life Interest Trust protects children from a first marriage. For trust drafting we recommend a solicitor or STEP-qualified adviser.
💡 Full Protection Package: Will + Property & Financial LPA + Health & Welfare LPA for £247. The most cost-effective way to cover the essentials in one go.
More Estate Planning Guides
- What Does Next of Kin Mean in the UK?
- Death Certificate UK: How to Get One and What It Costs
- How to Write a Will in the UK
- Probate Cost Calculator
Sources & references
- GOV.UK — Wills, probate and inheritance
- HMRC — Inheritance Tax
- GOV.UK — Make a Will
- Citizens Advice — Wills
Authoritative UK government, HMRC, statute and Citizens Advice sources. Last reviewed: 15 August 2026.
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