Living Legacy Planning
Part of our Bespoke Legacy & Lifestyle Wealth Planning approach, this service helps you pass on wealth during your lifetime in a structured and considered way, so you can support your family, reduce inheritance tax and see the impact of your decisions.
What Is Living Legacy Planning?
Living legacy planning is a structured approach to passing wealth to your family during your lifetime.
It allows you to support the people who matter most at the right time, while managing inheritance tax efficiently and maintaining your own financial security.
Why Waiting Can Cost More Than Money
Traditional financial planning often focuses on what happens after you pass away.
But this can create a disconnect between wealth and when it is actually needed.
In many cases:
- children receive inheritance later in life, when it may have less impact
- opportunities to support housing, education or key life decisions are missed
- families pay more inheritance tax than necessary
Most importantly, you never get to see the difference your wealth could have made.
Starting with the end in mind allows you to make more meaningful decisions throughout your lifetime.
A Different Way to Think About Legacy
Traditional Legacy Planning
- Focused on passing wealth after death
- Limited visibility of impact
- Often results in higher inheritance tax
- Reactive and delayed
Living Legacy Planning
- Structured gifting during your lifetime
- See the impact of your wealth in real time
- Reduce inheritance tax exposure
- Proactive and intentional
How Living Legacy Planning Works
Step 1: Understand Your Financial Position
We assess your assets, income, future needs and overall financial position to ensure any decisions are built on a clear and stable foundation.
Step 2: Identify Meaningful Opportunities
We explore when, how and how much you can give, focusing on where your support will have the greatest impact for your family.
Step 3: Structure It Efficiently
We structure your giving in line with UK inheritance tax rules, ensuring it is both tax-efficient and aligned with your long-term plan.
Step 4: Keep It Balanced
Your legacy strategy is integrated into your wider financial plan, ensuring you maintain your own lifestyle while supporting others.
The Benefits of a Living Legacy
Living legacy planning allows you to make a meaningful difference while maintaining control and clarity.
It enables you to:
- Help your children onto the property ladder
- Support education or key life decisions
- Reduce potential inheritance tax liabilities
- Strengthen family relationships through timely support
- See the real-world impact of your wealth
Who Is Living Legacy Planning For?
This service is ideal for individuals who:
- Have accumulated significant assets or wealth
- Want to support their children or family earlier in life
- Are concerned about inheritance tax
- Value seeing the impact of their financial decisions
- Want to balance giving with maintaining their own lifestyle
- Want clarity on how to balance giving, lifestyle and long-term security
Frequently Asked Questions
Q: What is a living legacy?
A living legacy is the act of giving wealth to your family during your lifetime, rather than waiting to pass it on after death.
Q: Does gifting reduce inheritance tax?
Yes. Certain gifts made during your lifetime may fall outside your estate for inheritance tax purposes, depending on timing and structure.
Q: Can I give money away and still stay financially secure?
Yes. With proper planning, you can balance gifting with maintaining your own financial stability and lifestyle.
Q: Why not just leave everything in my will?
Because timing matters. Supporting your family when it has the greatest impact can often be more valuable than passing wealth on later, particularly when planned in a structured and tax-efficient way.
Q: When is the best time to start?
The earlier you plan, the more flexibility you have to give in a structured and tax-efficient way.
Make an Impact While It Matters Most
Start building a plan that supports your family today, while protecting your future.