22: How to Protect Your Wealth for Future Generations | Inheritance Tax & Estate Planning Explained

In this episode of Retire Well with Wealth Advice, Matthew and Joe tackle one of the most complex and emotionally charged topics in financial planning: Inheritance Tax (IHT) and Estate Planning.They break down: • What makes up your estate and how IHT is calculated • The current allowances and thresholds (including nil-rate and residence nil-rate bands) • How pensions are treated for IHT now and what’s changing in 2027 • Simple but essential steps like writing a will, nominating pension beneficiaries, and setting up powers of attorney • Gifting rules, including the 7-year rule and gifts out of normal expenditure • When to consider trusts, life insurance, or business reliefs • Common pitfalls and misconceptions around property and care fee planningWhether you're planning your own estate or helping a loved one, this episode is packed with practical advice and real-world examples to help you make informed decisions.👉 Got questions about IHT or estate planning? Drop them in the comments — we’ll cover them in a future Q&A episode!🔔 Subscribe for new episodes every Tuesday.#inheritancetax #estateplanning #financialplanning #retirewell #wealthadvice --TALK TO USCall us: 0191 384 1008Email us: [email protected]: www.wealthofadvice.co.uk--SUBSCRIBE TO OUR NEWSLETTERhttps://www.wealthofadvice.co.uk/newsletter-sign-up---Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.