Friday, May 30, 2025
  • About
  • Write for us
  • Contact
Today News
  • Business
  • Tech
    Digital Education

    EdTech in the UK: Are We Ready for the Next Phase of Digital Education?

    Virtual Numbers vs SIM Cards: Which Is Best for International Business?

    Virtual Numbers vs SIM Cards: Which Is Best for International Business?

    How Secure is Your Client Portal?

    How Secure is Your Client Portal?

    Machine to Listen

    What Happens When You Teach a Machine to Listen

    Revolutionising Business Connectivity: The Power of eSIM Technology

    Revolutionising Business Connectivity: The Power of eSIM Technology

    How to Buy a Second-Hand Tablet in the UK Without Getting Ripped Off

    How to Buy a Second-Hand Tablet in the UK Without Getting Ripped Off

    Msafely Review: Is it the Best iPhone Spy Software of 2025?

    Ai

    AI Ad Generator vs Human Designers: What Works Better?

    Chatbots Are Out, AI Agents Are In: Meet Retail’s New Crown Jewel

    Chatbots Are Out, AI Agents Are In: Meet Retail’s New Crown Jewel

  • Consumer
    Craving Connection: Why Food Gifting Is the New Love Language

    Craving Connection: Why Food Gifting Is the New Love Language

    How to Celebrate Milestones from Afar: The Rise of Digital Gifting in the UK

    How to Celebrate Milestones from Afar: The Rise of Digital Gifting in the UK

    How to adjust glasses at home – a step-by-step guide!

    How to adjust glasses at home – a step-by-step guide!

    Why quality toilet cubicle hardware matters

    Why quality toilet cubicle hardware matters

    Common Mistakes in KYC Identity Verification

    Common Mistakes in KYC Identity Verification

    Consumer habits

    British Furniture Market Sees Significant Changes in Consumer Preferences

    Why are high-street bookmakers declining in the UK?

    Why are high-street bookmakers declining in the UK?

    Straps for smartwatches: The Complete guide

    Straps for smartwatches: The Complete guide

    High street retailers are at a “crossroads”, says retail tycoon

    High street retailers are at a “crossroads”, says retail tycoon

  • Finance
    What is Automated Invoice Processing?

    What is Automated Invoice Processing?

    The UK Treasury Aims to Introduce a Single Tax for Remote Gambling

    The UK Treasury Aims to Introduce a Single Tax for Remote Gambling

    Eriongroup.biz Reviews: Confident Investments with a European Broker

    Eriongroup.biz Reviews: Confident Investments with a European Broker

    How Crypto is Enabling Micropayments for Content

    How Crypto is Enabling Micropayments for Content

    Fan Tokens: When Finance Meets the Passion for Football

    Fan Tokens: When Finance Meets the Passion for Football

    The Hidden Costs of Convenience: Why Subscription Overspending Is the New Budget Killer

    The Hidden Costs of Convenience: Why Subscription Overspending Is the New Budget Killer

    10 Best UK Trading Platforms in 2025

    10 Best UK Trading Platforms in 2025

    Crypto Trading

    Proprietary Crypto Trading and How It Works

    Should You Get an MBA or Learn on the Job? A Guide for Entrepreneurs

    Should You Get an MBA or Learn on the Job? A Guide for Entrepreneurs

  • Environment
    Moving Abroad? Here’s What to Expect – and Why Cardboard and Plastic Waste Removal Is Essential After Unpacking

    Moving Abroad? Here’s What to Expect – and Why Cardboard and Plastic Waste Removal Is Essential After Unpacking

    How Weather Events Like Heavy Rain or Heatwaves Affect Pest Activity

    How Weather Events Like Heavy Rain or Heatwaves Affect Pest Activity

    Building a Carbon-Competitive Advantage with Sustainability and Decarbonization Consulting

    Building a Carbon-Competitive Advantage with Sustainability and Decarbonization Consulting

    The Lost Art of Orienteering: Why Map and Compass Skills Still Matter

    The Lost Art of Orienteering: Why Map and Compass Skills Still Matter

    Sustainability in Dining: Reducing Waste for a More Profitable Future

    Sustainability in Dining: Reducing Waste for a More Profitable Future

    Environmental Benefits

    What Are The Environmental Benefits Of Choosing Eco-friendly Rubbish Removal In Croydon?

    Why You Should Hire Waste collectors for efficient waste removal

    Why You Should Hire Waste collectors for efficient waste removal

    Choosing the Right Floating Dock Platform for Your Aquaculture Cages

    Choosing the Right Floating Dock Platform for Your Aquaculture Cages

    How to Use UV Light in Your HVAC System for Cleaner Air

    How to Use UV Light in Your HVAC System for Cleaner Air

  • Property
    Importance Of Having A Property Management System For Airbnb Hosts 

    Importance Of Having A Property Management System For Airbnb Hosts 

    Real Estate

    Secrets to Building Wealth through Real Estate Investing

    Real Estate

    Precision Matters: Why a Specialist Real Estate Makes All the Difference

    Guide to purchasing property in Marbella

    Guide to purchasing property in Marbella

    Can Parquet Flooring Work in Modern Homes: A Versatile Choice or Just for Period Properties?

    Can Parquet Flooring Work in Modern Homes: A Versatile Choice or Just for Period Properties?

    7 Key Benefits of Asset Tracking for Property Owners

    7 Key Benefits of Asset Tracking for Property Owners

    company event image

    Luxury vs. Budget: Wedding Venues in the City of London for Every Couple

    Home

    How to Sell Your Chelsea Home for the Best Price

    How Smart Homes Are Changing the Way We Live

    How Smart Homes Are Changing the Way We Live

  • eCommerce
    The Importance of Digital Valuations for UK Ecommerce Brands

    The Importance of Digital Valuations for UK Ecommerce Brands

    Blink-and-Buy: Designing Checkouts That Convert in Under 10 Seconds

    Blink-and-Buy: Designing Checkouts That Convert in Under 10 Seconds

    High Stakes Strategies: Lessons E-commerce Entrepreneurs Can Learn from Casinos

    High Stakes Strategies: Lessons E-commerce Entrepreneurs Can Learn from Casinos

    Amazon Expert

    Amazon Expert: Key Qualifications to Look For

    Boosting Ecommerce Revenue with Smart Targeting Strategies

    Boosting Ecommerce Revenue with Smart Targeting Strategies

    Personalized Shopping: How Technology is Transforming Retail

    Personalized Shopping: How Technology is Transforming Retail

    How Can Ecommerce Businesses Learn From Entertainment Platforms?

    How Can Ecommerce Businesses Learn From Entertainment Platforms?

    Magento Web Development Company: Unlocking the Power of E-Commerce

    Magento Web Development Company: Unlocking the Power of E-Commerce

    eCommerce in 2025: What’s Changing and Why It Matters

    eCommerce in 2025: What’s Changing and Why It Matters

No Result
View All Result
Today News
Home Finance

Introduction to estate planning and your financial options

David Prior by David Prior
February 11, 2025
Reading Time: 3 mins read
Introduction to estate planning and your financial options
551
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You work hard to build your wealth, and you want to ensure your loved ones benefit from it when you’re no longer here. But without a clear plan, the law of Intestacy dictates who inherits your estate ‒ often leading to unintended outcomes. 

Families can face delays, unnecessary tax burdens and even disputes that could have been avoided with proper preparation. That’s where estate planning comes in, helping pass on more of your wealth in the ways you wish and making sure the right people can make decisions on your behalf. 

Related posts

What is Automated Invoice Processing?

What is Automated Invoice Processing?

May 28, 2025
543
The UK Treasury Aims to Introduce a Single Tax for Remote Gambling

The UK Treasury Aims to Introduce a Single Tax for Remote Gambling

May 27, 2025
446

By taking control in some of the following ways, you remove uncertainty and put protections in place for the future.

Making a valid will

A will ensures your estate is distributed according to your wishes. Without one, your assets may not pass to the people you expect, and your loved ones may face lengthy legal hurdles.

To create a legally binding document, you need to put your instructions in writing, sign it in the presence of two witnesses and have them sign it as well. They must be over 18 and cannot be beneficiaries. 

Any mistakes in the wording or execution could make the document invalid. A solicitor can help you draft a clear, legally sound will that accurately reflects your intentions. 

Exploring trusts

Instead of handing over a lump sum outright, trusts allow you to set conditions on when and how people receive their inheritance ‒ which is particularly useful for minors or vulnerable individuals. You appoint trustees to manage the assets on behalf of the beneficiaries. 

There are different types depending on your objectives. Discretionary trusts allow flexibility in how funds are allocated, for example, while life interest trusts provide ongoing income to a chosen individual. 

Minimising Inheritance Tax (IHT)

If your estate exceeds the IHT threshold, 40% of anything above it goes to HMRC ‒ but there are ways to reduce this liability. 

Gifting during your lifetime is one of the most effective options. You can give away up to £3,000 each year without it being counted towards IHT, and larger gifts may become tax-free if you survive for seven years after making them. You can also make contributions to family weddings and charities. 

Certain types of trusts also remove assets from your estate while keeping you in control. Plus, if you own property, passing it directly to descendants will reduce your tax burden.

Assigning lasting powers of attorney

If you ever lose the ability to make decisions due to illness or injury, someone needs legal authority to act on your behalf. A lasting power of attorney (LPA) lets you appoint trusted individuals to make decisions for you. 

There are two types: one for property and financial affairs and another for health and welfare. You can choose different people for each or the same person for both. By setting this up while you’re still capable, you ensure your interests are protected and those you trust have the authority to manage your affairs without extra legal obstacles.

Accessing inheritance early

Inheritance often takes months or even years to be released, particularly if probate is complex. This delay can leave beneficiaries struggling financially, especially if they are relying on the deceased’s income or facing urgent costs.

An inheritance loan provides an alternative, allowing people to access a portion of their entitlement immediately, with repayment made from the final estate distribution. These loans are secured against expected inheritance rather than personal assets, meaning there are no credit checks or monthly repayments. 

Are your affairs in order? By putting structures such as these in place today, you prevent complications and provide security for those who matter most.

David Prior

David Prior is the editor of Today News, responsible for the overall editorial strategy. He is an NCTJ-qualified journalist with over 20 years’ experience, and is also editor of the award-winning hyperlocal news title Altrincham Today. His LinkedIn profile is here.

Previous Post

eCommerce in 2025: What’s Changing and Why It Matters

Next Post

The Future of MSC Therapy: Breakthroughs, Challenges, and Global Advancements

Related Posts

What is Automated Invoice Processing?
Finance

What is Automated Invoice Processing?

May 28, 2025
543
The UK Treasury Aims to Introduce a Single Tax for Remote Gambling
Finance

The UK Treasury Aims to Introduce a Single Tax for Remote Gambling

May 27, 2025
446
Eriongroup.biz Reviews: Confident Investments with a European Broker
Finance

Eriongroup.biz Reviews: Confident Investments with a European Broker

May 26, 2025
451
How Crypto is Enabling Micropayments for Content
Finance

How Crypto is Enabling Micropayments for Content

May 22, 2025
455
Fan Tokens: When Finance Meets the Passion for Football
Finance

Fan Tokens: When Finance Meets the Passion for Football

May 20, 2025
450
The Hidden Costs of Convenience: Why Subscription Overspending Is the New Budget Killer
Finance

The Hidden Costs of Convenience: Why Subscription Overspending Is the New Budget Killer

May 20, 2025
375
Next Post
The Future of MSC Therapy: Breakthroughs, Challenges, and Global Advancements

The Future of MSC Therapy: Breakthroughs, Challenges, and Global Advancements

RECOMMENDED NEWS

Hi-Vis Jackets

Guide to Choosing the Best Hi-Vis Jackets for Workplace Safety

5 months ago
581
Tennis Court

The Art of Tennis Court Installation: A Step-by-Step Guide to Constructing an Ideal Playing Surface

2 years ago
344
Green Lawn

Your Guide to a Lush, Green Lawn: Tips from the Pros

9 months ago
39
How to Handle Crypto Crash: A 2022 Investor’s Guide for Beginners

How to Handle Crypto Crash: A 2022 Investor’s Guide for Beginners

3 years ago
319

BROWSE BY CATEGORIES

  • Business
  • Careers
  • Charity
  • Consumer
  • Culture
  • eCommerce
  • Education
  • Energy
  • Engineering
  • Entertainment
  • Entrepreneurs
  • Environment
  • Fashion
  • Finance
  • Food & Drink
  • Gaming
  • Gardening
  • Health
  • Insurance
  • Interiors
  • Legal
  • Leisure
  • Lifestyle
  • Manufacturing
  • Marketing
  • National
  • News
  • Opinion
  • Pets
  • Politics
  • Property
  • Sales
  • Sport
  • Sports
  • Tech
  • Transport
  • Travel
  • Uncategorized

BROWSE BY TOPICS

Agency AI autosmart banking Beauty business Christmas construction cyber security data digital Digital Marketing Services ecommerce entertainmnet finance fitness health inflation insurance kitchen KYND lifestyle manchester music News north overseas Personal Injury Pharmaceutical Industry property Real Estate recruitment Sir Michael Morpurgo Skincare sports technology The Victoria Quarter tourism travel UK vehicles Warkworth village watch workspace yorkshire

Latest news

Digital Education

EdTech in the UK: Are We Ready for the Next Phase of Digital Education?

May 29, 2025
Reshaping Construction

Compact Power, Big Impact: How Mini Excavators Are Reshaping Construction

May 29, 2025
Pac-Man Arcade Machine

Pac-Man Arcade Machine: How a Phenomenon Was Born

May 29, 2025
Syna World Hoodies

Level Up Your Look with the Hottest Syna World Hoodies

May 29, 2025
Cross Linking in Polymers

Understanding Cross Linking in Polymers for Better Performance

May 29, 2025
Machine Maintenance

ISBM Machine Maintenance Tips for Optimal Performance

May 29, 2025
French Dairy vs. British Dairy

French Dairy vs. British Dairy: How’s the Difference in Taste and Use?

May 29, 2025
Ammunition Manufacturing

The Benefits of Sustainable Practices in Ammunition Manufacturing

May 29, 2025
Watermarks

How to Remove Watermarks from an Image — Free Online Tool Guide

May 29, 2025
Reliable delivery of dietary supplements and vitamins in the UK: myth or reality?

Reliable delivery of dietary supplements and vitamins in the UK: myth or reality?

May 28, 2025

Today News

  • About
  • Write for us
  • Contact
  • Privacy Policy

@2024 Rooftree Publishing Ltd

Today News in association with Kajino.com

Sign up for our newsletter




  • Business
  • Tech
  • Consumer
  • Finance
  • Environment
  • Property
  • eCommerce

Recent News

Digital Education

EdTech in the UK: Are We Ready for the Next Phase of Digital Education?

May 29, 2025
Reshaping Construction

Compact Power, Big Impact: How Mini Excavators Are Reshaping Construction

May 29, 2025
No Result
View All Result
  • Home
  • Business
  • Tech
  • Consumer
  • Finance
  • Environment
  • Property
  • eCommerce
  • Write for us
  • About
  • Contact