The recent Budget has prompted plenty of discussion about personal finances, tax and long term planning. While it is natural to focus on day to day spending, it is equally important to consider what these announcements mean for your estate planning.

At SLS Wills and More, we support clients across Aylesham, Canterbury and further afield with clear, reliable estate planning guidance. Many of our readers already have a Will with us. Others may be completely new to the subject and might be reading this because a family member or friend has passed it on. This update has been written with both groups in mind.

Below, we explain what the Budget really means for your Will, your estate and your future peace of mind.

The Headlines: What Has Actually Changed?

Budgets can feel overwhelming. News coverage tends to focus on political points, which makes it easy to miss the practical changes that influence estate planning.

The areas most likely to affect your plans include:

• Inheritance Tax thresholds
  Any alteration to the nil rate band or residence nil rate band can change how much tax your loved ones might pay.
• Tax reliefs and allowances
  Adjustments to pension, savings or investment allowances can influence how your assets should be structured.
• Support for families
  Measures aimed at younger families or first time buyers may affect how you choose to distribute your estate.

Even if the Budget does not drastically alter the rules, it can still influence the effectiveness of your existing plans. A Will that was perfect a few years ago might benefit from a review if your circumstances have changed.

For Those Who Already Have a Will with Us

If you already have a professionally drafted Will through SLS Wills and More, it is sensible to review it whenever the financial landscape shifts.

A review may be helpful if:

• Your property has increased in value.
• Your family circumstances have changed, for example marriage, separation or new grandchildren.
• You want to check that your Will makes full use of all available allowances.
• You have set up new savings or investments in response to Budget incentives.

A review does not necessarily mean rewriting everything. Sometimes a small update or additional planning advice is all that is needed to keep everything working exactly as you want it to.

For Anyone Considering Their First Will

If you know someone who has not yet made a Will, the Budget is often the moment that makes people realise they should not put it off.

A first time Will provides protection through:

• Certainty for partners who are not married or in a civil partnership.
• Guardianship instructions for children, which is vital for young families.
• Potential reduction of Inheritance Tax through proper structure and planning.
• Clarity and reduced stress for loved ones at an already difficult time.

Many people avoid making a Will because they assume it will be complicated or costly. In reality, it is one of the most important and straightforward steps you can take to protect the people you care about.

Why Regular Reviews Matter

The law in England and Wales evolves, and so does your life. Budget updates, financial changes and personal milestones can all affect your documents.

We recommend reviewing your Will every two to three years, or sooner if something significant changes. Regular reviews help ensure that:

• Your wishes are accurately reflected.
• Your estate is distributed in the most efficient way possible.
• There are no preventable complications for your beneficiaries.

A review is simple and can be done in person or via video call.

SLS Wills and More: Here to Support You

With more than 38 years of experience, full TEP status and a reputation for clear, dependable advice, SLS Wills and More remains a trusted name in estate planning.

We offer appointments at our office:

Office 4, Garrity House, Miners Way, Aylesham, Canterbury CT3 3BF

We also provide video call appointments for the growing number of clients based outside Kent who want expert guidance from a qualified professional.

To speak with us or to book an appointment, call 01304 577998.

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