NextGen intergenerational Wealth Management

Passing assets to the next generation is a key objective for those who have spent a lifetime accumulating wealth. But to do so effectively you’ll need access to the very best advice and professional expertise to ensure your investments, savings, pensions and all other assets are managed and protected in the most tax-efficient manner. How do you find the different experts you’ll need on the journey - from accountants to legal experts, financial planners to tax advisers and mortgage providers to will writers?

Welcome to NextGen Intergenerational Wealth Management, a unique service from E&G that brings together all these skills and services under one independent roof, fully accredited, authorised and regulated, providing you with peace of mind as we work to help secure your family’s financial future.

Wills, Trusts & Probate

The starting point for your plan is having a proper will and it’s never too soon to arrange this. Many people assume their estate will automatically go to their closest family but if you die intestate* (without a will), that may not happen and your assets could be reduced by inheritance tax. Planning ahead with a will in place means that your estate will be distributed according to your wishes. E&G’s experts can also advise you on the best way to preserve your family’s wealth by making cash gifts during your lifetime or by protecting assets in trusts. For those not married, we can help to ensure your legacy is not subject to any challenges to probate.

* If you die intestate - without having a valid will - the Court will decide how your estate is distributed according to strict rules.View our intestacy diagram here >

Inheritance Tax Planning

This is a tax paid on your estate when you die and may also be levied on certain gifts you make while you are still alive. The tax is currently applied to estates worth more than £325,000 and when the value exceeds this limit, known as the nil-rate band, everything over that threshold is taxed at 40% unless it has been left to your surviving spouse or civil partner.

An additional Nil Rate band has been introduced for death occurring on or after 6 April 2017 where an interest in a qualifying residence passes to direct descendants. The amount of this relief, phased in over 4 years, is set at £175,000 For many married couples and registered civil partnerships, each spouse or partner enjoys the principal nil rate band and can benefit potentially from the additional residence nil rate meaning that overall tax relief could double to £1,000,000 where applicable (£325,000 + £325,000 + £175,000 + £175,000)

From 6 April 2025, UK Inheritance Tax is determined by an individual's tax residency rather than their domicile. It applies to the worldwide assets of long-term UK residents, and to UK-based assets of individuals who are not UK resident. Your E&G adviser will help you understand all the implications of Inheritance Tax and advise you on the steps you can take to minimise liability, both while you’re alive and after death.

Business Succession Planning

Business succession planning is the process of deciding who will take over your business in the future when you retire or pass away. If you are a limited company and want to share ownership between several children. a senior employee or an external buyer, putting a shareholder’s agreement in place makes your decision clear and avoids any arguments later.

Selling a business might change the way you’re taxed and if you’re selling a business to someone else with a plan to retire, you need to inform HMRC. In the event of your death, it’s important to have a succession plan so your wishes are followed because, without it, the
rules of intestacy* will apply. Your E&G adviser will help you take all the necessary steps.

Family Wealth Planning

We’ll help you understand and identify family governance mechanisms, how to structure wealth and manage the transfer of intergenerational wealth. Your E&G NextGen adviser will also help you with cost and reputation management as well as asset allocation
strategies based on the latest changes in the wealth management sector. We make the complex and complicated straightforward and easy to understand.

Inter-Spousal Wealth Planning

The transfer of assets between spouses or civil partners is often necessary to enable each spouse to fully utilise the various tax exemptions available. As a general rule this equalisation of estates is desirable. This means that ideally each spouse should own assets
amounting to at least the value of the inheritance tax nil rate band of £325,000 for the relevant tax year, own assets which enables full use of the capital gains tax annual exempt amount of £3,000 and that generate enough income to mitigate exposure to higher rate income tax. Your E&G tax, legal and accounting experts will help at every step of the way.

Inter-spousal transfers are not subject to Inheritance Tax If both spouses or civil partners are long-term UK residents (under the new rules replacing domicile from 6 April 2025), regardless of value.

If one spouse is a long-term UK resident and the other is not, the exemption is capped. The current cap is £325,000, which aligns with the standard nil-rate band

Your E&G adviser will help you plan everything to ensure you maximise wealth transfer while minimising tax liability.

Pension Succession Planning

From 6 April 2027, most unused pension funds and death benefits will be brought into the scope of Inheritance Tax (IHT), even if held in discretionary pension schemes.

This marks a significant shift from the current position (5th April 2027) where such funds typically fall outside the taxable estate.

Under the new rules:

• Unused pension funds will be included in the value of your estate for IHT purposes.
• Personal representatives (not pension scheme administrators, as originally proposed) will be responsible for reporting and paying any IHT due
• Death-in-service benefits from registered pension schemes will remain exempt from IHT, regardless of scheme type

These changes reduce the tax advantages of using pensions purely as a vehicle for passing on wealth.

However, with careful planning, pensions can still play a valuable role in your broader estate and retirement strategy.

At E&G, we help you navigate these changes and make informed decisions about:

• Drawing down pension benefits in a tax-efficient way
• Structuring your estate to minimise IHT exposure
• Aligning your pension strategy with your long-term legacy goals

Your E&G adviser is here to ensure your pension planning remains robust, flexible, and aligned with your family’s future.

Regulatory statement

The Financial Conduct Authority does not regulate Tax, Trusts and Estate Planning

Help & information

If you would like further information about our NextGen Intergenerational Wealth Management Service, please call us on 020 8396 0486 or email us at cds@eandgfs.com.