Family wealth and inheritance: planning guide and checklist
YOUR WPR PLANNING STARTING POINT
Bring gifts, property, business interests and family needs together before making decisions about passing wealth to the next generation.
Your planning checklist
Use these questions to organise your facts and prepare for a discussion with your adviser.
- Prepare an inventory of assets, debts, ownership and relevant countries.
- Check your will, intended beneficiaries and the arrangements for dependants.
- Document earlier gifts and identify any continuing use of, income from or control over assets given away.
- Assess the cash and income you will need before committing to further gifts.
- Review family homes, business interests, farms, trusts and pensions as separate parts of the plan.
- Include family members living abroad and your own residence history in the review.
- Keep valuations and supporting records, and review the plan when circumstances or tax rules change.
Start with a revised guide
Inheritance Tax Planning Handbook 2025/26
View the guide's coverage and member access details. Revised October 2026.
Non-Resident & Offshore Tax Planning 2025/26
View the guide's coverage and member access details. Revised October 2026.
Selected member reading
- Inheritance tax on farms and businesses — member article
- Leaving the UK and inheritance tax exposure — member article
Build your plan with WPR
Explore practical explanations, worked examples and detailed tax guides. Check the membership options and choose the level that suits you.
View membership options Browse the tax booksExplore another planning topic
This checklist helps you identify issues; it does not determine your tax position. Read the dates and scope of linked guidance and obtain advice for your circumstances.