In Trust – January 2026

2026 begins with renewed momentum: fresh starts, evolving rules for wealth and estate planning, and a lively political backdrop. After a year of significant change in terms of tax policy and regulatory frameworks, we hope that 2026 brings greater certainty, stability, and confidence for clients in their wealth planning.

Last year’s recalibration has shifted into a “take action” phase. For many, this means reviewing Wills, trusts and available tax reliefs to ensure estate and wealth plans are aligned with the changing rules.

In this edition, we highlight key housekeeping points for 2026 to help safeguard your assets, prevent disputes, and support informed decisions about your wealth during your lifetime. Plus, other practical essentials — from why it is never too early to have a lasting power of attorney (LPA) in place, to what happens to pets on separation or death — topics that often fall to the bottom of the list but are best addressed early.

We hope you enjoy this edition of In Trust and, if a topic sparks a question, please do get in touch with your usual Wedlake Bell adviser.

In this issue…

• Festive cheer for farmers and business owners as Government increases APR and BPR 100% relief limit to £2.5m — just before Christmas, the Government announced a major concession: the proposed 100% relief limit for inheritance tax (IHT) “agricultural property relief” (APR) and “business property relief” (BPR) will rise to £2.5m per person from April 2026 — more than double the figure first proposed in the 2024 Budget. For couples, that could mean £5m of qualifying assets passing free of IHT. The higher relief limit offers welcome flexibility, but with changes taking effect from 6 April 2026, now is the time to review your succession plans and ensure they still meet your goals.
• New year, new rules: key tax planning opportunities for the year ahead — as 2026 begins, now is the time to review your wealth planning and take advantage of current reliefs before upcoming changes take effect. From inheritance tax reforms and gifting strategies to CGT and ISA allowances, discover practical steps to protect your assets in a shifting tax landscape.
• Safeguard your future: the importance of young people making Wills and Lasting Powers of Attorney — it is easy to feel invincible when you are young and thriving, but life doesn’t always go to plan. As wealth accumulation becomes more common among young entrepreneurs, reality stars and athletes, the Law Commission is recommending the legal age to make a Will be lowered to 16. Planning isn’t just for later life — if you have built something worth protecting, now is the time to plan.
• New year, new risks: navigating transparency in the Commercial Court — from January, key court documents will be made publicly accessible, increasing the risk of sensitive information entering the public domain. Now more than ever, making a New Year’s resolution to avoid disputes could help safeguard your privacy and reputation.
• Bone of contention — what happens to our pets when life or relationships end? Despite feeling like family, pets are legally “chattels”. That matters on divorce and on death. From “pet nups” and tailored Will clauses, to mediation and re homing options, we outline practical steps to avoid costly, stressful disputes and keep your companion safe.

This article is for general information purposes only and does not constitute legal advice or a comprehensive statement of the law. Specific legal advice should always be sought in relation to individual circumstances.

Meet the team:

1. 

   • Caroline Miller

   • Partner
   • Private Client

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