As another year draws to a close, many people take the time look over their finances, plans, and priorities. Estate planning is often overlooked, but it is one area where a timely review can make a real difference, both for you and for those you care about.
Whether you already have a Will or Lasting Power of Attorney, or are yet to put these documents in place, reviewing your estate planning arrangements before 2026 begins is a sensible and proactive step.
Why a Year-End Estate Planning Review Matters
Life rarely stands still. Over the course of a year, personal and financial circumstances can change in ways that affect how your estate should be dealt with. You may also have important events planned for the year ahead, making now an ideal time to take stock and plan for the future.
Common reasons to review your arrangements include:
- If you have married or divorced this year, or are planning to do so next year
- The birth of children or grandchildren
- Changes in property ownership, including moving in with a partner
- Starting, or planning to start, a new business or making new investments
- Changes in your financial circumstances
- Changes in the health of you or your loved ones
- Assets or personal circumstances that might affect tax rules or allowances
- Changes to immigration status or long-term residency
Failing to reflect these changes can mean your wishes are no longer carried out as you intended, or your estate plan may not be as tax efficient as it could be.
Here are some important areas to check:
1. Reviewing Your Will
Your Will is one of the most important documents you can have. It sets out how your assets are distributed after your death and may include provisions for tax planning. Without one, your estate may not be distributed as you intend and could cause added stress for your loved ones at a difficult time. However, a Will should be a living document, not something written once and forgotten about. If you have already have a Will, it is worth asking:
- Are your chosen executors still appropriate and willing to act?
- Do your beneficiaries remain the same?
- Are gifts and legacies still accurate?
- Does the Will reflect your current financial position and residency status?
If you live in the UK but have overseas connections, nationality, or assets abroad, it is especially important to draft your Will carefully to avoid uncertainty or legal issues in other jurisdictions.
You can read our previous blog about the importance of using a solicitor to draft your Will.
2. Immigration Status and Estate Planning
Your immigration status can directly affect your estate planning and should not be overlooked.
If you have obtained, or are planning to apply for, Indefinite Leave to Remain (ILR), a review of estate planning arrangements is especially important. ILR may affect:
- Long-term residence in the UK.
- Property ownership and succession planning.
- Tax exposure, including inheritance tax.
- How overseas assets are treated.
If you don’t have a settled status, there may be additional matters to consider, especially if your assets or beneficiaries are based in more than one country.
If you plan to apply for ILR, read our previous article about the new ILR contributions-based model. Our dedicated team of immigration lawyers can assist with all types of visa applications and are experienced in dealing with Home Office requirements. Some individuals may have several immigration routes available to them, and we can advise on the best option and help secure the visa you need.
3. Inheritance Tax Considerations for 2026
Inheritance Tax (IHT) planning remains a key part of estate planning. Even if IHT allowances and thresholds don’t change that often, their impact can increase as assets such as your property, pensions, or investments grow in value.
A year-end review allows you to:
- Assess potential inheritance tax exposure.
- Consider lifetime gifting options.
- Review trusts or existing arrangements.
- Ensure available allowances are being used effectively.
This is particularly important if you have international ties, since your residency and where you are domiciled can affect how tax rules apply.
4. Powers of Attorney and Capacity Planning
Estate planning is not only about what happens after death. It also involves planning for situations where you may be unable to make decisions yourself.
Lasting Powers of Attorney should be reviewed to ensure:
- The appointed attorneys are still suitable.
- Instructions remain relevant.
- Documents reflect your current circumstances and location.
Without these documents in place, loved ones may face delays and extra complexity, especially if immigration or residency issues are involved. While you may not need to use an LPA immediately, or may never need to use one at all, it acts as a valuable form of insurance against unforeseen events. Find out more in our previous article about who needs an LPA. Our friendly and accessible team of Power of Attorney solicitors can guide you through the entire process, including registration with the Office of the Public Guardian.
5. If You Are Getting Married
If you are planning a wedding for the new year, there are some crucial legal documents all couples should consider. It is also vital to remember that marriage can revoke an existing Will, so it is important to review your estate planning documents in advance. For further information, you can read our previous article about legal documents to consider when getting married.
Taking Advice and Planning for The New Year
Estate planning is rarely one-size-fits-all. This is especially true for individuals with changing immigration status, international connections, or plans to settle in the UK.
Reviewing your estate planning arrangements before 2026 begins can provide reassurance that everything is up to date and legally sound. Taking advice early allows potential issues to be addressed proactively, ensuring your wishes are clearly documented and your family is protected.
At Berlad Graham, our teams work together to provide comprehensive legal advice and support for individuals, business owners, and families planning for the future. Find out more about our services for:
Contact our Solicitors in Uxbridge
If you would like to arrange an appointment for the new year to discuss your estate planning needs and explore the best way forward, please get in touch. You can call our friendly lawyers in Uxbridge on 0330 175 5655 or email info@bglaw.co.uk.
