While a will is a central component of estate planning, detailing how assets are to be distributed upon death, estate planning goes further by considering tax implications, potential gifting, trusts, and more. See our Wills page for more detail.  

You cannot alter an existing LPA but as long as you have the mental capacity to make that decision, you can cancel your existing LPA and put a new one in place.  If someone has lost mental capacity they can no longer cancel their LPA. 

Trusts can be instrumental in controlling how and when assets are distributed, potentially reducing inheritance tax liabilities, and protecting assets. For a more detailed look, visit our Trusts page.   

In England & Wales, there are certain exemptions and thresholds for various types of gifting, beyond which inheritance tax may be due. Always consult with a specialist before making significant gifts.

Beyond asset distribution, consider potential tax liabilities, the current and future needs of beneficiaries, future asset protection, and any charitable contributions or legacies you’d like to leave. 

Regular reviews are recommended, especially after significant life changes such as marriages, births, asset acquisitions, or changes in tax laws, rates or exemptions. 

While we offer legal advice on structuring your estate, we always recommend seeking independent financial advice to ensure that you fully understand any financial products that you may consider as part of the broader estate planning process. 

Yes, but international estate planning can be more complex due to differing laws and tax implications. It’s crucial to work with experts familiar with cross-border considerations. 

Trusts can be included within a will or set up during your lifetime. While a will outlines asset distribution after death, a trust can manage assets during one’s lifetime and beyond, offering more control over asset distribution and potential tax benefits. For an in-depth look, reference both our Wills and Trusts pages.