“In this world nothing can be said to be certain, except death and taxes.” — Benjamin Franklin (1789)
Judging by the last six months of IHT planning meetings, though, a surprising number of perfectly sensible people are quietly planning to live forever. The real eye-opener has been the shock when we run a draft IHT exposure — especially with changes coming in April 2026 and April 2027 — and the number of times clients say, “Wait… we pay IHT on that as well?”
This article is a brisk tour through what actually matters: getting the basics done, understanding what’s in scope, and — the unsung hero — producing a simple Personal Balance Sheet so your family isn’t left doing forensic archaeology on your filing cabinet.
A heads-up: the proposed Budget on 26 November may tweak some of this (there are rumours around the gifting regime), but that makes this timely, not premature. We’ll summarise anything material when it lands.
In the meantime, grab a glass of wine/beer, a square of chocolate, cop a pew, and dip into the one-liners below. Unlike our usual emails, you are actually going to benefit from reading through most of these — much as we love optimism, we’re all going to pop off someday. Better plans, fewer shocks.
And remember……..
- “Nothing lasts forever.” — November Rain, Guns N’ Roses
- “You can’t always get what you want.” — The Rolling Stones
- “Don’t fear the Reaper.” — Blue Öyster Cult
- “All things must pass.” — George Harrison
A practical guide to a delegate topic: IHT
Click each topic to find out more:
- Talking About Death — A clumsy chat now beats family warfare later.
- 5 Ways to Start the Money Chat — Blame us, keep it broad, use Lucy’s checklist.
- Wills vs Intestacy — A Will is a kindness: choose executors, avoid chaos, and say who gets the teapot.
- Wills & Deeds of Variation — Useful edit button (two-year window), but don’t rely on it — minors/trusts block it.
- Lasting Powers of Attorney — Incapacity happens; LPAs stop financial gridlock and care guesswork.
- Your Personal Balance Sheet — One or two pages that save weeks of detective work.
- Digital Assets — Photos, logins, legacy contacts: set it up before the cloud locks you out.
- IHT Basics — Thresholds, the 40% sting, and why more estates are caught.
- Allowances & Reliefs — Use the £3k, small gifts, weddings, and surplus-income gifts (with records!).
- Recording Gifts Properly — “Gift or loan?” becomes easy when you write it down.
- GROBs (Gifts with Reservations) — If you still use it, HMRC thinks you still own it.
- Property & the Family Home — RNRB, downsizing rules, and the traps that waste allowances.
- Joint Tenancy vs Tenants in Common — Title wording can override your Will — check it.
- Charitable Giving — Feel good, cut IHT; 10% can drop the rate to 36%.
- Worldwide Assets (post-Apr 2025 rules) — Long-term UK residents = worldwide IHT; don’t rely on “domicile” lore.
- Pensions & Death Benefits — 2027 brings pensions into IHT; nominations matter more than ever.
- Life Insurance & Protection — Put policies in trust; consider a joint-life “IHT safety net”.
- Business Owners — Articles beat Wills; prep succession, protection, and the new BPR/APR allowances.
- Practical Steps for Executors — What to do, when to do it, and why to pause before selling.
- FHL: Last Orders — What the 2025 Abolition Means Now
- HMRC’s Got Their Binoculars Out – And They’re Pointed at Your Expenses
- Fake “Companies House” Messages Are Everywhere — Don’t Click, Don’t Pay
