Avoiding Common Estate Pitfalls

How to protect your assets, your legacy, and your loved ones with smarter planning.

Estate planning isn’t just for the ultra-wealthy.

If you own a house, have savings, children, or even a digital life, you already have an “estate.” The real question is: are you protecting it?

Too often, families are left picking up the pieces due to avoidable mistakes, lost documents, outdated wills, no power of attorney, or surprises no one saw coming. The cost? Financial stress, court delays, family feuds, and broken legacies.

Let’s make sure that doesn’t happen to you.

1. Not having a will at all

Over half of UK adults haven’t written a will. If you die without one, intestacy rules decide who gets what - and unmarried partners, stepchildren, or close friends could get nothing.

Fix it: Make a legally valid will today. Even a simple one is better than none.

2. Forgetting to update your will

Married again? New grandkids? Bought a property abroad? If your will is outdated, it may not reflect your true wishes.

 Fix it: Review your will every 3–5 years or after major life changes (births, deaths, divorce, property purchases).

3. Ignoring inheritance tax (IHT)

The current UK threshold is £325,000. Anything above that could be taxed at 40% unless exemptions (like gifts to spouses or charities) are used properly.

Fix it: Use tools like gifts, trusts, or charitable donations — ideally with help from a financial adviser or solicitor.

4. Poor record keeping

Heirs waste months searching for pensions, investments, passwords, and policies. Or worse — they never find them.

Fix it: Create a "when I’m gone" folder — digital or physical — listing your key accounts, policies, contacts, and documents.

5. Leaving unclear or unequal gifts without explanation

Unequal inheritances often cause rifts, especially if there’s no note or reasoning left behind.

Fix it: Be clear. Leave a letter of wishes or have honest conversations during your lifetime.

Estate planning isn’t just about money, it’s about care, clarity, and control. It ensures your assets go where you want, your loved ones are protected, and no one is left in the dark.

It’s not just a legal exercise. It’s one of the most meaningful things you can do for your family.

Take the first step: Book your appointment today, contact our team at 0330 390 9200 .