By Thomas & Bradley, in partnership with Parasol
With 10+ years of experience in the legal services industry, Thomas Bradley & Co are experts in all aspects of estate planning. In this blog, they explain when you should start estate planning and how you and your loved ones will benefit.
Estate planning isn’t just for the elderly
Many people think estate planning is something you only do later in life. The truth is, almost 60% of UK adults have made no plans at all for their estate. Life is unpredictable, and estate planning is not just about preparing for death. It is about protecting your family, reducing stress, and making sure your wishes are respected at every stage of life.
The right time to begin
So when should you start estate planning? The answer is earlier than you might think. Milestones such as buying your first home, getting married, starting a family, or growing a business are all signals that it is time to make a plan. Estate planning is not a one-off event. It should evolve with your life, reflecting changes in your family, finances, and goals.
The benefits of planning ahead
Estate planning provides more than just peace of mind. It can:
● Protect your children’s inheritance and ensure they are provided for.
● Minimise inheritance tax so more of your wealth goes to your loved ones.
● Safeguard vulnerable beneficiaries through trusts or managed arrangements.
● Prevent disputes by clearly outlining your wishes.
Consider this: the average cost of a contested estate in the UK can exceed £20,000 in legal fees. Families often endure years of stress and heartache simply because there was no clear plan in place. By starting estate planning early, you protect your loved ones from that burden.
Start now and protect what matters most
The best time to start estate planning is today. The earlier you begin, the more control you have over your assets and the greater the protection for your family. Estate planning is not just for the wealthy, it is for anyone who wants to take responsibility for their future.
Book a call with Thomas & Bradley through MyMarketplace to create a plan that fits your life now and in the future. Taking action now is the most powerful way to protect your family’s tomorrow.
