Planning Ahead: The Key Documents Every Family Should Have in Place

When it comes to protecting your loved ones and your estate, forward planning can go a long way. Despite this, many individuals and families delay getting their legal affairs in order. A 2025 survey commissioned by Compare My Move, involving 2,000 UK adults, found that 54% of people across all age groups do not have a will. Among those aged 55–64, many of whom are approaching retirement, 39% still have not written one. Even more concerning, 1 in 5 adults say they have no intention of ever writing a will.

Whether it is due to uncertainty, cost, or the assumption that “there is plenty of time,” putting it off can create real complications for those left behind. In reality, planning ahead is not just for the elderly or the wealthy. It is for anyone who wants to ensure their family is taken care of and their wishes are respected.

A Valid Will

A will is the foundation of your estate planning. It allows you to set out your wishes clearly for what should happen after your death, whilst also making things significantly easier for the people left behind.

What You Can Include in a Will:

Appointment of Executors
These are the people legally responsible for administering your estate after your death.
Guardians for Children
If you have children under 18, you can name guardians to care for them should something happen to you (and the other parent).
Gifts to Specific People
You can leave specific items (like jewellery, artwork, or heirlooms), or cash gifts, to chosen individuals or charities.
Division of Your Estate
You can set out who should inherit the rest of your assets (your “residuary estate”), such as property, bank accounts, and investments.
Funeral Wishes
While not legally binding, you can express your preferences for burial or cremation and the type of funeral you would like.

Trusts

You can include trusts within your will or as a separate legal document to help protect and manage your assets. This is particularly useful when providing for children, vulnerable beneficiaries, or blended families.

A trust is a legal arrangement where you give assets to trustees to manage on behalf of someone else (the beneficiaries).

Common Types of Trusts:

Discretionary Trusts
You nominate a group of potential beneficiaries and give your trustees the power to decide who benefits, when, and by how much. This is ideal for flexibility.
Life Interest Trusts
Typically used to protect a spouse or partner. Here, one person receives the income or use of the asset during their lifetime, and the capital passes to another beneficiary after their death.
Bare Trusts
A simpler arrangement, often used for gifts to children, where the beneficiary becomes fully entitled to the assets at a specified age.

Trusts can be a powerful tool to:

Protect assets from being misused
Safeguard wealth for future generations
Provide for vulnerable beneficiaries
Manage inheritance tax liabilities (in certain circumstances)

Trust law and tax treatment can be complex and using the wrong structure or wording could result in unintended tax consequences or legal challenges. Our expert advice can help you make the right choice.

Lasting Powers of Attorney

Wills deal with what happens to your estate after death, but what if something happens while you are still alive, and you lose the ability to make decisions?

A Lasting Power of Attorney allows someone you trust (your “attorney”) to act on your behalf if you lose mental capacity. This could be due to illness, accident, or age-related decline.

You must set these up before you lose capacity otherwise your family would need to apply to the Court of Protection for a Deputyship order, which can be a lengthy and costly process.

There are two types of Lasting Powers of Attorney:

Property and Financial Affairs Lasting Power of Attorney

This allows your attorney to:

Access and manage your bank accounts
Pay bills, rent or mortgage
Manage pensions or benefits
Sell or maintain property
Deal with investments

You can choose to let this come into effect immediately, or only if you lose capacity.

Health and Welfare Lasting Power of Attorney

This allows your attorney to make decisions about:

Medical treatment and care
Daily routines (e.g. eating, dressing)
Living arrangements (e.g. care home decisions)
End-of-life care

This type of Lasting Power of Attorney can only be used once you lose capacity and gives your loved ones clear legal authority to act in your best interests.

A Letter of Wishes

While not legally binding, a letter of wishes can be incredibly useful alongside your will or trust. It provides guidance to your executors or trustees in your own words and helps prevent confusion or conflict.

You might use it to:

Explain decisions made in your will (e.g. exclusions)
Provide a list of sentimental items and who should receive them
Outline funeral wishes in more detail
Offer guidance about how trust assets should be used
Express your wishes regarding digital assets or social media

Because it is not part of the legal document itself, it can be updated as often as you like without needing a formal legal amendment.

If you are choosing to exclude someone like a family member, it is advised to explain this clearly either in the will or in a separate letter of wishes to prevent claims being made against your estate after your death.

A Lifetime Planning Strategy

Legal documents are essential, but they are most effective when part of a joined-up approach to lifetime planning.

Some key areas to consider:

Inheritance Tax: Are you making the most of exemptions, allowances, and reliefs (like the residence nil-rate band)?
Gifting: Are you using annual gifting exemptions? Are you aware of the 7-year rule and taper relief?
Business or Agricultural Relief: If you own a business or farmland, are you maximising the tax reliefs available?
Long-Term Care Planning: Could your assets be at risk from future care home fees?
Pension and death benefit nominations: Are these aligned with your estate planning goals?

How We Can Help

We understand that planning ahead can feel overwhelming, especially when you are dealing with legal jargon, tax rules, and big decisions that affect the people you love most.

Our experienced and professional Private Client team will work closely with you to ensure your planning is clear, comprehensive, and tailored to your unique situation.

We can help with:

Drafting wills that reflect your wishes
Preparing Lasting Powers of Attorney and acting as certificate providers
Recommending and setting up trusts where appropriate
Providing practical inheritance tax advice
Reviewing and updating existing documents
Supporting complex family arrangements (e.g. second marriages, business assets, vulnerable dependants)

If you would like to discuss further, please contact our Private Client team on 01384 410410 or use our online enquiry form.