Guide to estate planning
Powered by Intelligent Partnership this new CPD qualifying guide has been updated with the latest developments that impact estate planning, as well as the rules and regulations that apply.
Estate planning
Keeping your wealth in the right hands
Important Message
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Estate planning is about putting your affairs in order, to help make the lives of your loved ones easier. It can help to protect your estate for your beneficiaries and reduce the impact of inheritance tax.
Learn more about estate planning
Guide to inheritance tax
Inheritance tax may need to be paid on the estate of someone who has died. An estate includes all of their property, possessions and money, as well as any gifts made within seven years of their death. Read our guide to inheritance tax to learn more.
Guide to trusts
A trust is a legal way of arranging some of your assets for the benefit of others, without giving them full control. Learn about how our trusts can help you to manage your wealth.
Trusts we offer
Gift Trust
Pass on your money in a tax-efficient way
- Gift is free from inheritance tax after seven years
- You can gift your money outright
- Any investment growth is free from inheritance tax
Gift and Loan Trust
Inheritance tax planning with access to your loan
- Take regular or ad-hoc loan payments
- Investment growth is free from inheritance tax
- Option to choose who receives the money
Wealth Preservation Trust
Gift your money with access to yearly payments
- Option to take yearly payments if needed
- Investment growth is free from inheritance tax
- Gift is free from inheritance tax after seven years
- Beneficiaries can get payments while you’re alive
Excluded Property Trust
Shelter your overseas assets from inheritance tax
- Shelter your overseas assets from inheritance tax
- Get access to your investment at any time
- No inheritance tax to pay on the assets in the trust
Probate Trust
For quicker payment of death benefits
- No need to wait for probate
- Access your investment when you need
- Quicker payment of the death benefit
Controlled Access Trust
Passing on your wealth to a child
- Decide the age the beneficiary can access the money
- Use the investment for the beneficiary before they’re 18
- Gift is free from inheritance tax after seven years
- Gift over £325,000 without an immediate tax charge
The value of your investment can go down as well as up and you may get back less than you invest. Tax rules depend on the type of investment and individual circumstances and may change.
Inheritance Tax explained
Why choose Canada Life for saving and investing?
Wealth Preservation Account
Our award-winning Wealth Preservation Account is now available with the option of a professional trustee service.
Learn more
