In a recent episode of Lappin’s Biggish Big Issue podcast, host and finance journalist John Lappin spoke with Nick Priest, partner and head of strategic partnerships at Downing, to discuss the shifting dynamics in estate planning and inheritance tax (IHT) advisory services.

Key highlights from the discussion:

• Increase in IHT enquiries:

Downing’s research revealed a significant rise in IHT-related enquiries, with advisers reporting an 84% increase prior to the last Budget and a 94% rise post-Budget. This spike reflects growing concern and demand for clarity among clients regarding estate planning.

• Demographic shifts in estate planning:

The conversation uncovered that nearly half of the clients seeking IHT advice are in their fifties - signalling that estate planning is no longer just a concern for the elderly.

• Impact of legislative changes:

The freezing of the nil-rate band and upcoming changes affecting pensions and business relief have prompted new and existing clients to reassess their estate plans.

• Role of specialists:

A striking 93% of adviser firms said they want more support from IHT specialists. This reinforces the complexity of the current estate planning environment and the growing reliance on expert guidance.

Listen to the conversation

Please note: This content is for information purposes only and does not constitute financial or tax advice. Please speak to a qualified adviser before making any investment decisions.

Downing’s role in estate planning:

With a legacy dating back to 1986 and over £1 billion in assets under management, we are a specialist provider of estate planning solutions.  

Sources:

* Downing commissioned independent research company PureProfile to interview 100 UK financial advisers and wealth managers using an online methodology during November 2024.

Important notice

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