Are you thinking about helping your children or grandchildren financially—perhaps with a house deposit or university fees—but you're worried about how it might affect Inheritance Tax? You're not alone. Many of our clients at Westwood Estate Planning want to be generous now, while they're here to see their family benefit, but they're unsure about the rules and don't want to create problems down the line.

The '7-year rule' is one of those phrases that gets mentioned a lot, often causing more confusion than clarity. In this article, we'll break down exactly how it works, what gifts are affected, and—most importantly—how you can make gifts wisely to reduce your potential Inheritance Tax bill while supporting the people you care about.

By the end, you'll have a clear understanding of this essential rule and practical steps you can take today.

We've noticed a lot of discussion online about the upcoming £10 increase to Lasting Power of Attorney (LPA) fees. Some people are genuinely annoyed about it, and we get that—nobody likes seeing costs go up. But we think the conversation is missing the point.

In this article, we'll explain what's actually changing, why it's happening, and—more importantly—why the protection an LPA gives you matters far more than ten pounds. By the end, you'll understand the new fees, but also why they shouldn't be the thing you focus on.

Inheritance Tax, or IHT, is a tax on your estate when you pass away, a concern for many families who want to preserve their wealth for loved ones. While it can feel daunting, understanding a few key exemptions can make a big difference.

These exemptions help you reduce potential tax, protect your hard-earned wealth, and offer legitimate ways to pass on assets without incurring the 40% Inheritance Tax charge. This brings immense peace of mind.

At Westwood Estate Planning, we pride ourselves on a thorough and empathetic approach to help you explore all potential solutions, ensuring you make informed decisions that protect your family's future and provide you with genuine peace of mind

Are you constantly worrying about what might happen to your family or your assets if something unexpected occurs?

At Westwood Estate Planning, our promise is simple: to help you 'Protect your loved ones, secure your peace of mind.' We simplify complex estate planning processes, ensure your wishes are honoured, and provide ongoing support so you can live with confidence today.

Discover how our empathetic and straightforward approach can remove your worries and secure your future

Worried about the new pension Inheritance Tax rules coming in 2027?

From April 2027, unused pension funds will be included in your estate for Inheritance Tax purposes - potentially adding £34,000 to some families' tax bills. If you previously thought your pension was safe from IHT, these changes could significantly impact your estate planning.

At Westwood Estate Planning, we help you navigate these new rules through comprehensive estate valuations and strategic planning, including lifetime gifting and trusts.

Don't let uncertainty rob you of peace of mind - book a free 15-minute chat to understand how these changes affect you and explore your options.

Explore the risk of 'sideways disinheritance' in this article by Gary Tonsley of Westwood Estate Planning.

Using a unique analogy with Elsa's castle, Gary illustrates how your home might unintentionally pass outside your family, leaving your children without their intended inheritance. Understand this crucial pitfall and discover why protecting your share of your home with a Will is vital.

Stay tuned for solutions in the next installment.

Discover how your Will can safeguard your share of your home, ensuring it passes to your loved ones or chosen causes, even if life takes unexpected turns.

This article from Gary Tonsley of Westwood Estate Planning highlights the importance of proper planning to protect your legacy and provide peace of mind for your family. Learn why a well-crafted Will is essential for securing your home's future.

Discover how your Will can protect your valuable assets, from your home to your vinyl collection, ensuring they go to your chosen loved ones in the right way. Gary Tonsley of Westwood Estate Planning explains the power of Trusts as "estate planning bodyguards" to safeguard your wishes and provide peace of mind. Learn why asset protection is crucial for your legacy.