How a financial planner could offer valuable guidance through the entire estate planning process

Estate planning can involve more complexities than you might expect

At first glance, estate planning might seem relatively straightforward. You decide who you’d like to inherit your wealth, document your wishes, and assume everything will then fall into place.

In reality, it can be far more involved than that. 

For instance, one of the main considerations might be Inheritance Tax (IHT). As of 2026/27, the standard nil-rate band is £325,000, with an additional £175,000 available if you pass your main residence to a direct lineal descendant. 

Anything above these thresholds is typically taxed at 40%. Without careful planning, a considerable portion of your estate could be lost to tax, affecting your loved ones’ standard of living. 

Then, there’s the way your assets are structured. Pensions, investments, and business interests might not all follow the same rules, and the way they’re set up can influence how easily they’re passed on and to whom.

Your personal circumstances also add an additional layer of complexity to this. For instance, if you have a blended family, children from previous relationships, or shared assets, ensuring everything is distributed fairly and as you intended can take a bit more thought.

What might seem obvious to you may not be as clear when someone else is trying to interpret your wishes after you’re gone.

And there are several non-financial considerations to keep in mind. Indeed, you might want to decide: 

• Who would look after your children
• Your funeral preferences
• Which sentimental items would go to specific people outside your family

These are often the decisions those around you care most about, but they’re easy to overlook. 

When you take all of this together, it quickly becomes clear that estate planning isn’t a one-off task, but rather a process with several moving parts that need to line up.

A financial planner can help bring everything together

With so many different elements to think about, having someone to guide you through the entire process can make things feel far more manageable. 

A financial planner from Hansford Bell can help you step back and look at the bigger picture, rather than trying to deal with each piece in isolation.

A good starting point is simply getting a clear view of what you have. This means identifying your assets, understanding how they’re currently set up, and spotting anything that might cause issues further down the line.

From there, it becomes far easier to ensure your wishes are properly reflected across everything.

In many cases, this might involve working with other professionals, such as solicitors, to ensure your will is set up correctly, or putting other arrangements in place – such as Lasting Powers of Attorney – where needed.

And, of course, tax is one of the more pressing concerns.

We could help you think about how you might pass your estate on in a more tax-efficient way. This might involve leaving a legacy to charity, using complex trusts, or gifting your wealth while you’re alive. 

Read more: What are “potentially exempt transfers” and how could they help you mitigate Inheritance Tax?

The important aspect of managing your tax liability is about ensuring more of your wealth reaches the people you want it to, not just reducing a bill.

Aside from the more technical benefits of working with a financial planner, there are several practical ones as well. 

For example, estate planning can often feel overwhelming, especially when it involves complex rules or decisions you haven’t had to think about before.

Having a neutral third party there to explain everything clearly, answer any questions, and guide you through the process can take much of this pressure away. 

Life rarely stands still, either. Your circumstances will likely change over time, whether that’s new assets, changes in your family situation, or simply a shift in how you want your wealth to be distributed.

A planner will take the time to review your plans with you on a regular basis, ensuring everything remains up to date and your wishes are adhered to. 

To find out more about how we can support your estate planning efforts, please call us on 01822 617 960, email info@hansfordbell.co.uk, or fill in our online contact form, and we’ll be in touch.

Please note:

This article is for general information only and does not constitute advice. The information is aimed at individuals only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The Financial Conduct Authority does not regulate estate planning, will writing, tax planning, or Lasting Powers of Attorney.