Flowers and chocolates are lovely to receive but only temporary in the joy they bring. This Valentine’s Day consider giving your partner and children the long-standing gift to remove the combination of loss, uncertainty and chaos at a time of deep grief. Flowers and chocolates will also go down well too, of course!
Love that lasts beyond a lifetime
While Valentine’s Day encourages us to celebrate the present, estate planning is all about safeguarding tomorrow.
A well‑structured estate plan can:
- Provide financial security for partners and children
- Minimise the impact of inheritance tax (IHT)
- Reduce stress and uncertainty at an already difficult time
- Ensure your wishes are carried out exactly as you intend
Think of it as writing the ultimate love letter, one that protects the people who matter most.
Why gifts matter in estate planning
In the UK, many lifetime gifts fall under “potentially exempt transfers.” If the donor survives seven years from the date of the gift, the value is usually exempt from IHT. This makes gift‑giving a powerful tool in shaping the financial well‑being of the next generation.
Common lifetime gifts include:
- Financial support for children or grandchildren
- Contributions toward property deposits
- Gifting shares or interests in a family business
- Placing assets into a trust for future benefit
These gestures can be both emotionally meaningful and financially strategic.
As romantic as giving can be, gifting large assets requires careful consideration. Some gifts may trigger capital gains tax, impact your own financial stability, or require specialist advice, especially when trusts or business assets are involved.
Trusts: a valentine’s gift that endures
For those who want to combine protection with flexibility, trusts can be a thoughtful option. They allow you to:
- Support loved ones at the right time
- Protect assets from divorce or creditor claims
- Maintain control over how gifts are used
- Mitigate long‑term tax exposure
Trusts aren’t just financial tools, they’re a long‑term expression of care.
When should you review or update your Will?
Just as relationships evolve, so should your Will. Valentine’s Day is a timely opportunity to reflect on whether your current arrangements still represent your wishes. You should consider updating your Will after key life events such as:
- Moving in with a partner
- Buying a home
- Getting married or entering a civil partnership
- Having children or grandchildren
- Separation or divorce
- Receiving an inheritance
- Starting or selling a business
Among the flowers and heart‑shaped chocolates, taking steps to create or update your Will may not seem traditionally romantic but it is one of the most genuinely caring acts you can make. It offers protection, reduces uncertainty, and gives your loved ones peace of mind long after Valentine’s Day has passed.
A little planning goes a long way
Just as strong relationships rely on communication and planning, so does effective estate strategy. This Valentine’s Day, consider taking a moment to prioritise your future as a couple or as a family.
Whether it’s a simple Will review, making your first tax‑efficient gift, or exploring more complex planning options, each step strengthens the legacy you’ll one day leave behind.
To speak to a member of our team, please request a consultation.
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