I've Just Retired
You spent forty years building the estate. Now you need to decide how it leaves you.
Retirement usually means the pension pot is at its peak, the mortgage is gone, and the estate is more concentrated than at any point in your life. It's also the last quiet window before the April 2027 pension IHT change lands.
What typically applies
From April 2027, most defined-contribution pensions come inside the estate for IHT. A generation of retirees whose plan was 'spend other money first, leave the pension alone' now needs to reverse it.
Retirement is also the point where LPAs matter more than they did at 55, where wills often need rewriting to reflect grown-up children and grandchildren, and where surplus income becomes available for gifts out of normal expenditure.
Where to go from here
In-depth problem page
Pension Changes 2027 & Inheritance Tax
The single biggest planning shift of the decade, explained in full.
Delivered by IMS
Wills
Almost every retiree should rewrite the will they signed at 45.
Delivered by IMS
Lasting Power of Attorney
The document you hope never to use, but must have in place.
Regulated adviser
Give Money Away and Keep an Income
Discounted Gift Trusts — for retirees with surplus capital and stable income needs.