Announcements in the Autumn Budget 2024 changed Inheritance Tax (IHT) rules for farmers and family businesses.
However, in December 2025 the government changed its mind, following criticism and protests.
New legislation now officially recognises digital assets as property. This addresses the previous lack of clarity about the status of digital assets, including cryptocurrency. This means you can now treat them like other types of asset in your Will.
As well as happy memories you will probably leave behind things of value when you die.
However, deciding what will happen to your estate isn’t only about money. You’ll want to make sure you include the people and things you care about.
Executors recently discovered lost assets of £629,000, held in multiple bank accounts following the sale of a family farm.
A daughter was in care and had a life interest in her mother’s estate. A law firm was acting as her deputy, looking after her interests. Sadly, she died before her mother. When her mother also died, there were two estates to deal with. There was very little information available about these separate but related estates.
Recent Court cases highlight why it’s important to make sure you have a valid Will which accurately reflects your wishes.
Tokenisation creates a digital representation of a real thing. It’s used to protect sensitive data or efficiently process large amounts of data. You can also transfer ownership of your real-world assets into tokens using distributed ledger technology (DLT) known as blockchain.
Transferring your assets to a protection trust may seem like a good option to reduce Inheritance Tax or minimise care fees.
However, a recent report says that misleading claims have persuaded people to choose this route when it won’t help them.
Generally, the UK’s high net worth individuals (HNWIs) have investable assets of over £1million or annual income of over £300,000.
These are the people we would once have called ‘millionaires’, which certainly excludes most of us. However, it’s estimated there are over 3million in the UK.
The latest survey from the charity Will Aid found almost six out of 10 people have never written a Will.
One in 10 of those who have a Will say it no longer reflects their wishes.
The story of thieves raiding unclaimed estates continues after recent coverage by the BBC.