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How to protect your loved ones with the right future planning

Wouldn’t it be amazing if we could see into our future and plan accordingly for it?

Unfortunately, life isn’t like that and no one can be certain of what their future holds.  But one thing I’m sure we would all agree on, would be ensuring that our loved ones are protected should the worst happen, and we were no longer able to support them.  Therefore, it’s important to have the right financial planning in place. In addition, the right financial plan can also help you pass on your assets when you die, giving you peace of mind that your wealth will go to the people you want it to.

This sort of financial planning and protection is most often referred to as estate planning.

What is estate planning?

There are different ways to preserve and protect your wealth for future generations, and this is where effective estate planning can help. Thoughtful estate planning can help you to preserve your wealth and pass it on to those you choose whilst potentially reducing your taxable estate and liabilities. So, the right people get the right money at the right time.

There are a number of ways to protect your wealth through estate planning, and these can include wills, gifts, and trusts.


Having a will in place is important so that you can set out what you would like to happen to your money, house, valuables and possessions after you die. Having a will can also help to reduce the inheritance tax (IHT) your family may be required to pay out of your estate when you die.  A will underpins the other IHT and estate planning.


Gifting assets is one of the easiest ways to transfer your money and is an effective way of reducing potential IHT.  There’s a seven year rule that means beneficiaries will not pay IHT on the value of the gift if the person making the gift lives for seven years after the date of making the gift.

There are other rules and exemptions that mean everyone can gift up to £3,000 free of IHT every tax year, and small gifts of up to £250 to as many people as you like, as long as you have not already gifted to them that year.  Many people consider gifting allowing them to see their children or grandchildren for example enjoying and making use of their financial gift.


Trusts, when set up properly, can benefit most people. There are many different types of trust, but a trust simply allows you to choose how your assets are used, who will benefit from them, when they can be received and even when they can’t be. In addition, trusts also allow assets to grow rather than being spent.

Help with your estate planning from Secondsight

The rules around inheritance tax and estate planning can feel rather complex, which is where we can help.  Foothold has asked us to help you by presenting an Estate Planning webinar. In this session we will highlight the steps you can be taking now to ensure your estate is safely and securely passed on in line with your wishes in the future. We will help you to understand the basics of estate planning, including key information on protecting and preserving family wealth, with the webinar covering inheritance tax, trusts and the importance of having a will.

Whilst this topic may currently sound overwhelming, we are specialists in simplify complex matters by using plain English and easy to understand graphical explanations. I am confident you will come away from the webinar with a better understanding of estate planning and some actions.

I look forward to you joining me on 25th October at 15:15pm.

About Secondsight

Secondsight is the dedicated employee benefits division of Foster Denovo Limited and is a multi-award winning benefits, wellness and financial education specialist and have won numerous awards for taking the complex and making it easy to understand.

Our passion is to create financial certainty for employees by delivering an outstanding employee benefits experience.

Free Wills month

Additionally, this October is Free Wills Month, which offers those aged 55 or over the opportunity to have their wills written or updated free of charge.

Look out for Foothold’s Wills Awareness Month which will be running during this time.


The value of your investment can go up as well as down and you may not get back the full amount invested.

The Financial Conduct Authority does not regulate will writing, taxation and trust advice.

For information purposes only and does not constitute advice or a personalised recommendation.

Secondsight is a trading name of Foster Denovo Limited, which is authorised and regulated by the Financial Conduct Authority.

Information correct at: 17th September 2021


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