Wealth Planning Solicitors

Osbornes Law is a London-based law firm with specialist private client solicitors who advise high-net-worth individuals and families across the UK. Our team is ranked in Chambers High Net Worth and the Legal 500.

Building wealth takes years. Protecting it, structuring it properly and making sure it passes to the right people at the right time takes expert legal planning.

That’s where we can help. Our private client solicitors provide legal advice on wills, probate and estate planning, trusts, inheritance tax planning and estate administration for individuals and families with substantial assets.

We’re not financial advisers — we don’t offer investment advice or sell financial products. What we do is work closely with your existing adviser, accountant or wealth manager to make sure the legal side of your wealth planning is properly structured and tax-efficient.

What is wealth planning?

Wealth planning is the process of putting the right legal structures in place to protect your assets, reduce your tax liability and make sure your wealth passes to your beneficiaries as you intend.

It’s broader than just writing a will. Wealth planning includes:

• Structuring your estate to minimise inheritance tax
• Creating trusts to protect assets for future generations
• Making lasting powers of attorney in case you lose mental capacity
• Planning for business succession if you own a company
• Protecting assets from care home fees, divorce or bankruptcy
• Coordinating UK and international estate planning if you have assets overseas

If your estate is worth more than £325,000 (or £500,000 if you own a property), you’ll likely have an inheritance tax liability. If you own a business, have investment portfolios, hold multiple properties or have complex family arrangements — such as a second marriage or dependents with special needs — you need proper wealth planning.

How wealth planning solicitors work with financial advisers

This is an important distinction that many people find confusing.

What solicitors do: We create the legal documents and structures that protect your wealth. That means drafting wills, setting up trusts, advising on inheritance tax strategies, preparing lasting powers of attorney and handling estate administration when someone dies. We also advise on the legal aspects of asset protection — how to structure ownership of property, how to protect wealth in the event of divorce or bankruptcy, and how to ensure your estate is distributed according to your wishes.

What financial advisers (IFAs) do: They advise on investments, pensions, insurance and savings. They recommend where to invest your money, how to structure your pension drawdown and what financial products suit your circumstances. They’re regulated by the Financial Conduct Authority.

We are not financial advisers. We do not provide investment advice, recommend financial products or hold ourselves out as regulated by the FCA. What we do is work closely with your IFA, accountant or wealth manager to make sure the legal structures are in place to support your financial plan.

For example: your IFA might recommend a pension drawdown strategy to provide income in retirement. We’ll draft a will that ensures the pension death benefits go to the right people, and create trusts to protect other assets for your spouse and children. Your accountant might advise on structuring your business for tax purposes. We’ll handle the legal side — shareholder agreements, business property relief planning and succession arrangements.

The best wealth planning happens when your legal and financial advisers work together. We’re used to liaising with other professionals and we welcome the opportunity to coordinate with your existing team.

Our wealth planning services

Our private client solicitors provide legal advice across the full range of wealth planning matters.

Wills for high-net-worth individuals

A will is the foundation of any estate plan, but for high-net-worth individuals, will drafting is rarely straightforward.

You may own multiple properties, have investments in different countries, hold shares in a family business or have complex family arrangements such as children from a previous marriage. Your will needs to account for all of this.

We draft wills that:

• Minimise inheritance tax by making full use of available exemptions and reliefs
• Protect assets for your spouse while ensuring children from a first marriage inherit
• Incorporate trusts to manage how and when beneficiaries receive their inheritance
• Deal with business assets and ensure succession is properly planned
• Accommodate international assets and comply with foreign inheritance laws
• Appoint the right executors and trustees to manage your estate

We also review existing wills to identify problems that could cause disputes after your death.

If your circumstances have changed — you’ve remarried, sold a business, acquired property overseas or had more children — it’s important to update your will. We’ll make sure it still reflects your wishes . Learn more about making a will.

Trust creation and management

Trusts are one of the most effective tools for protecting wealth and controlling how your assets are distributed.

We advise on and set up:

Life interest trusts — These give your spouse the right to live in the family home or receive income from investments for the rest of their life, while preserving the underlying capital for your children. They’re particularly useful in second marriages where you want to provide for your current spouse but ensure your children ultimately inherit.

Discretionary trusts — These give your trustees the flexibility to decide when and how much each beneficiary receives. This can be useful if you have young children, beneficiaries who aren’t good with money or family members whose circumstances may change over time.

Property protection trusts — These protect your share of the family home from being used to pay for care home fees, while still allowing your spouse to live there. They need to be set up well in advance — you can’t create one when care is already imminent.

Trusts for vulnerable beneficiaries — If you have a child or dependent with a disability or who lacks mental capacity, a trust can provide for them without affecting their entitlement to means-tested benefits.

Pilot trusts — Small trusts set up during your lifetime that can be used to receive assets from your estate on death, offering flexibility and potential tax advantages.

We also advise trustees on their duties, help with trust administration and deal with HMRC reporting requirements. Read more about our trust services.

Inheritance tax planning

Inheritance tax is charged at 40% on the value of your estate above the nil-rate band. For most people, that’s £325,000. If you leave your main residence to direct descendants, you may also qualify for the residence nil-rate band, which adds another £175,000. This means a couple can pass on up to £1 million before inheritance tax applies — but only if their estate is structured correctly.

If your estate exceeds these thresholds, we can help you reduce the tax bill through:

Lifetime gifts — You can give away up to £3,000 per year without any tax implications. Larger gifts may be exempt from inheritance tax if you survive for seven years after making them. We’ll advise on the most tax-efficient way to make gifts while retaining enough to live on.

Trusts — Assets placed in certain trusts may fall outside your estate for inheritance tax purposes, reducing the amount charged on your death.

Business property relief and agricultural property relief — If you own a business or farmland, you may qualify for relief of up to 100%. We’ll make sure your affairs are structured to take full advantage of this.

Charitable bequests — Leaving at least 10% of your net estate to charity can reduce the inheritance tax rate from 40% to 36%.

Spousal exemption — Anything you leave to your spouse or civil partner is exempt from inheritance tax. We can help you structure your wills to make full use of both spouses’ nil-rate bands.

It’s important to understand that we provide legal advice on how to structure your estate and assets. For advice on the financial side — such as whether to invest in business relief schemes or how to structure pension contributions — you’ll need to speak to your financial adviser or accountant. We work alongside them to make sure the legal and financial planning are aligned. Explore our inheritance tax planning services.

Lasting powers of attorney

A lasting power of attorney (LPA) is a legal document that allows you to appoint someone to make decisions on your behalf if you lose mental capacity.

There are two types:

Property and financial affairs LPA — This allows your attorney to manage your bank accounts, pay your bills, sell property and make investment decisions on your behalf. It can be used as soon as it’s registered, or only if you lose capacity — you decide.

Health and welfare LPA — This allows your attorney to make decisions about your medical treatment, where you live and your day-to-day care. It can only be used once you’ve lost capacity.

Most people need both.

Without an LPA, your family would need to apply to the Court of Protection for a deputyship order if you lost capacity. This is expensive, time-consuming and stressful — particularly if family members disagree about who should be appointed. The court process can take many months and cost several thousand pounds.

We’ll help you choose the right attorneys, explain their duties and responsibilities and register the LPAs with the Office of the Public Guardian. We’ll also advise on safeguards you can put in place to protect against financial abuse.

LPAs aren’t just for elderly people. Anyone can lose capacity through an accident, stroke or sudden illness. If you own property, have savings or investments or run a business, you should have LPAs in place. Find out more about lasting powers of attorney.

Estate planning and administration

We take a comprehensive view of your estate — looking at everything you own, how it’s owned, who will inherit and what tax will be due.

This includes:

• Reviewing how property is owned (joint tenants or tenants in common) and whether changes are needed for tax or asset protection reasons
• Advising on pension death benefits and making sure your nomination forms are up to date
• Identifying assets that will pass outside your will (jointly owned property, life insurance policies, pensions) and ensuring they’re structured correctly
• Coordinating UK and international estate planning if you have assets overseas
• Reviewing your existing wills, trusts and powers of attorney to make sure they still work for your circumstances

Learn more about our estate planning services.

When someone dies, we also handle probate and estate administration. This involves:

• Applying for the Grant of Probate
• Valuing the estate and dealing with HMRC
• Paying inheritance tax and other liabilities
• Distributing the estate to beneficiaries
• Administering any trusts created by the will

If you’re an executor, we can take on as much or as little of the administration as you need. Some executors prefer to handle everything themselves with occasional legal advice. Others want us to deal with the entire process.

We also act in disputed estates — if there’s a challenge to the validity of a will, a claim under the Inheritance Act or a dispute between executors and beneficiaries. Our contentious probate team can help resolve estate disputes.

Specialist wealth planning

Business succession planning — If you own a business, we’ll work with you to plan what happens to it when you retire, become incapacitated or die. This includes shareholder agreements, business property relief planning, key person insurance and buy-sell arrangements. We liaise with your corporate lawyers and accountants to make sure your personal and business affairs are properly coordinated.

Second marriages and blended families — Life interest trusts are often the solution here, but every family is different. We’ll help you balance the needs of your current spouse with your wish to provide for children from a previous relationship.

Asset protection — How you own assets can make a significant difference if you divorce, face bankruptcy or need to pay for care. We advise on changing the ownership of property from joint tenants to tenants in common, creating trusts to protect assets and restructuring estates to reduce exposure.

Philanthropy and charitable giving — If you want to leave a legacy to charity, we’ll advise on the most tax-efficient way to do it — whether through your will, a charitable trust or lifetime donations.

Digital assets — Cryptocurrencies, online accounts, intellectual property and digital businesses are all part of modern wealth. We’ll make sure your will and estate plan account for them.

Who needs wealth planning?

You should consider wealth planning if:

• Your estate is worth more than £325,000 (or £500,000 for a couple) and you want to reduce your inheritance tax liability
• You own multiple properties or have substantial investment portfolios
• You run a business and need to plan for succession
• You have a second marriage and want to provide for your spouse while protecting your children’s inheritance
• You have complex family arrangements — such as children from different relationships, dependents with disabilities or estranged family members
• You own assets in different countries and need coordinated UK and international planning
• You want to protect your wealth from care home fees, divorce or creditors

Wealth planning isn’t just for multimillionaires. If you own a house in London or the South East, you may already be over the inheritance tax threshold. If you have pensions, savings and investments on top of that, you could have a significant tax liability without realising it.

The earlier you start planning, the more options you have.

The wealth planning process at Osbornes Law

Step 1: Initial consultation — We’ll meet with you (in person or remotely) to understand your circumstances, your assets, your family and your objectives. This initial consultation is free and there’s no obligation to proceed. We’ll also confirm our fees at this stage so you know exactly what to expect.

Step 2: Comprehensive review — We’ll review any existing wills, trusts, powers of attorney and estate planning documents you have. We’ll look at how your assets are owned, identify any tax liabilities and work out what needs to change.

Step 3: Strategy development — We’ll recommend a tailored plan based on your circumstances. If you have a financial adviser or accountant, we’re happy to liaise with them to make sure our legal advice aligns with their financial planning.

Step 4: Document drafting — Once you’ve approved the strategy, we’ll draft the necessary documents — wills, trusts, lasting powers of attorney, deeds of variation, declarations of trust or whatever else is needed.

Step 5: Implementation — You’ll sign the documents in front of witnesses (or come into our office if attestation is required). We’ll register your LPAs with the Office of the Public Guardian and, if you’re setting up a trust, we’ll help you transfer assets into it.

Step 6: Ongoing review — Your wealth planning isn’t something you do once and forget about. We recommend reviewing your arrangements every three to five years, or sooner if there’s a major life event — marriage, divorce, the birth of a child, the sale of a business or the acquisition of significant assets.

Most wealth planning engagements are completed within four to eight weeks. Complex international estates or trust structures may take longer.

Why choose Osbornes Law for wealth planning?

Specialist expertise — Our private client team is ranked in Chambers High Net Worth and the Legal 500. Several of our solicitors are members of STEP (the Society of Trust and Estate Practitioners), the leading professional body for estate planning specialists.

Personal service — You’ll work directly with an experienced solicitor, not a trainee or paralegal. We get to know our clients and take the time to understand what matters to them.

Collaborative approach — We work alongside your financial adviser, accountant and other professionals. Wealth planning works best when your legal and financial advisers are coordinated, and we’re experienced at liaising with other advisers to achieve that.

London expertise, UK accessibility — We’re based in North London but we act for clients across the UK. Most of our work can be done remotely, with meetings by video call or phone. You don’t need to be in London to benefit from London-quality legal advice.

Transparent pricing — We offer fixed fees for straightforward work (such as wills and LPAs) and clear hourly rates for more complex matters. We’ll give you a costs estimate at the outset and keep you informed if anything changes.

Proven track record — We’ve been advising individuals and families for over 40 years. Our private client team has particular expertise in second marriages, international estates and high-value probate administration.

Common wealth planning scenarios

Business owners

The challenge: You’ve spent 20 years building a successful company. You want to make sure it’s protected if you die or lose capacity, and you want to pass it on to your children without them facing a huge inheritance tax bill.

The solution: We’ll work with your corporate lawyers and accountants to create a succession plan. This might include business property relief planning (which can provide up to 100% relief from inheritance tax), shareholder agreements that govern what happens if you die, and trusts to hold your shares for the benefit of your family. We’ll also make sure your will and LPAs are coordinated with your business succession plan.

Second marriages and blended families

The challenge: You’re remarried and you want to make sure your current spouse is provided for, but you also want your children from your first marriage to inherit your estate eventually. Our family law solicitors often work with wealth planning clients navigating second marriages.

The solution: A life interest trust is often the answer. This allows your spouse to live in the family home (or receive income from your investments) for the rest of their life, but when they die, the capital passes to your children. We’ll draft a will that creates the trust on your death and appoint trustees to manage it. This gives your spouse security while protecting your children’s inheritance.

Property investors

The challenge: You own three buy-to-let properties in London and you’re concerned about inheritance tax. Your estate is worth around £2 million and your children could face a tax bill of over £500,000 when you die.

The solution: We’ll review how the properties are owned and find the most tax-efficient approach. Our property law services can help with property structuring and ownership arrangements. This might include making lifetime gifts (if you can afford to give away capital), transferring properties into trust, or changing ownership structures to make better use of your spouse’s nil-rate band. We’ll work with your accountant to model different scenarios.

International families

The challenge: You’re a UK resident but you own property in France and Spain. You have children living in Australia. You want to make sure your UK and overseas assets are dealt with efficiently when you die, without your family facing legal complications in multiple countries.

The solution: We’ll draft a UK will that deals with your UK assets and coordinate with lawyers in France and Spain to ensure your overseas estates are properly planned. Our international estate planning services specialise in cross-border wealth planning. We’ll also advise on conflicts of law (different countries have different inheritance rules) and make sure your executors understand what needs to happen in each jurisdiction. If needed, we can appoint executors in different countries to manage the local administration.

Protecting against care home fees

The challenge: You’re in your 60s and you’re worried that if you need residential care in the future, your house will be sold to pay for it. You want to protect it for your children.

The solution: If you act now — while you’re still healthy and care isn’t imminent — you may be able to put your share of the property into a trust. This removes it from your estate for the purposes of the means test for care home funding. However, the rules are strict and you can’t do this as a deliberate deprivation of assets once care is already likely. We’ll advise on whether this is viable in your situation and, if so, how to structure it properly.

Inheritance tax planning — what you need to know

Inheritance tax (IHT) is charged at 40% on the value of your estate above the nil-rate band.

Current thresholds:

• Individual nil-rate band: £325,000
• Residence nil-rate band: £175,000 (if you leave your main residence to direct descendants)
• Combined allowance for couples: Up to £1 million if structured correctly

Example: If you’re married and your estate is worth £1.5 million (including your home), and you leave everything to your children, the IHT bill would be around £200,000. With proper planning, that bill could be significantly reduced or even eliminated.

How to reduce IHT:

Lifetime gifts — You can give away up to £3,000 per year with no tax consequences. Larger gifts may become exempt if you survive for seven years. If you die within seven years, the tax is tapered.

Trusts — Certain types of trust can remove assets from your estate, reducing the IHT charged on death.

Spousal exemption — Anything you leave to your spouse or civil partner is exempt from IHT. This means you can pass your entire estate to your spouse tax-free, and they’ll also inherit your unused nil-rate band.

Business and agricultural property relief — If you own a business or farmland, you may qualify for 100% relief from IHT. The rules are complex and HMRC scrutinises these claims closely, so it’s important to structure your affairs correctly.

Charitable bequests — If you leave at least 10% of your net estate to charity, the IHT rate drops from 40% to 36%.

Pension death benefits — Pensions usually sit outside your estate for IHT purposes, so they’re not taxed on death (though income tax may apply to the beneficiaries). Make sure your pension nomination forms are up to date.

It’s important to understand that we provide legal advice on structuring your estate to reduce IHT. For advice on investments, business relief schemes or pension planning, you’ll need to speak to your financial adviser. We’re happy to work with them to coordinate the legal and financial planning.

Why lasting powers of attorney matter

Most people think LPAs are only for elderly people, but that’s not true. Anyone can lose capacity through an accident, stroke or sudden illness.

If you don’t have an LPA and you lose capacity, your family will need to apply to the Court of Protection for a deputyship order. This process:

• Takes six to twelve months on average
• Costs several thousand pounds in legal fees and court fees
• Requires annual reporting to the Court of Protection
• Can lead to disputes if family members disagree about who should be appointed

With an LPA in place, your chosen attorney can step in immediately. They can pay your bills, manage your investments, sell property if needed and make decisions about your care. It’s quicker, cheaper and far less stressful for your family.

We’ll help you:

• Choose the right attorneys (you can appoint more than one and specify whether they must act jointly or can act independently)
• Decide when the LPA should take effect (immediately or only when you lose capacity)
• Include safeguards to protect against financial abuse or misuse of the power
• Register the LPA with the Office of the Public Guardian so it’s ready to use when needed

You should review your LPAs every few years to make sure your chosen attorneys are still appropriate. If someone you’ve appointed has died, moved abroad or is no longer willing to act, you’ll need to create a new LPA.

Working with your existing advisers

The best wealth planning happens when your solicitor, financial adviser and accountant work together.

We’re experienced at liaising with other professionals and we actively encourage it. If you have an IFA, wealth manager or accountant, let us know and we’ll coordinate with them to make sure our legal advice fits with their financial planning.

How it works in practice:

• Your IFA recommends a pension drawdown strategy to provide income in retirement. We’ll draft a will that ensures the pension death benefits go to the right people and create trusts to protect other assets for your spouse and children.

• Your accountant advises on restructuring your business for tax purposes. We’ll handle the legal side — shareholder agreements, business property relief planning and succession arrangements.

• You’re selling a buy-to-let property and your financial adviser suggests reinvesting the proceeds. We’ll advise on the inheritance tax implications and whether holding the new investment in trust would be beneficial.

We’ll attend joint meetings (in person or by video call) if that’s helpful, and we’re happy to speak directly to your other advisers with your permission.

If you don’t currently have a financial adviser or accountant, we can recommend professionals we’ve worked with before.

Frequently asked questions

Do I need a wealth planning solicitor or a financial adviser?

You need both. Solicitors create the legal documents and structures that protect your wealth — wills, trusts, lasting powers of attorney and estate planning. Financial advisers handle investments, pensions and insurance. We work together to give you complete protection.

What’s the difference between estate planning and wealth planning?

Estate planning is about what happens to your assets when you die — wills, probate and inheritance tax. Wealth planning is broader. It includes lifetime planning, asset protection, business succession and tax-efficient structuring of your wealth while you’re still alive. Wealth planning includes estate planning, but it’s not limited to it.

How much does wealth planning cost?

It depends on your circumstances. A straightforward will costs from £500 + VAT. Lasting powers of attorney are £400 + VAT per person. Comprehensive wealth planning (wills, trusts, LPAs and tax advice) typically costs £3,000 to £8,000 + VAT. We offer a free initial consultation and we’ll give you a clear costs estimate before you commit to anything.

When should I start wealth planning?

As soon as you have assets to protect. Ideally when you buy property, start a business, get married or have children. The earlier you start, the more options you have — particularly when it comes to inheritance tax planning and asset protection. But it’s never too late. Even if you’re already retired, there are still planning opportunities.

Do I need wealth planning if I’m not based in London?

Yes. We act for clients across the UK. Most of our work can be done remotely, with meetings by video call or phone. If you need to sign documents, we can arrange for a local solicitor to witness your signature or, in some cases, you can come to our London office.

How often should I review my wealth plan?

Every three to five years, or sooner if there’s a major life event. Marriage, divorce, the birth of a child, the death of a beneficiary, the sale of a business or the acquisition of significant assets are all triggers for a review. Tax laws also change, so it’s worth checking that your plan still works.

Can you help if I have assets overseas?

Yes. We advise on UK estates with international assets, and we work with lawyers in other countries to coordinate cross-border planning. If you’re UK resident but own property abroad, or if you have family members living in different countries, we can help you put a plan in place that works across multiple jurisdictions.

Will wealth planning save me inheritance tax?

It depends on your circumstances, but in most cases, yes. Proper planning can significantly reduce your inheritance tax liability through legal strategies such as lifetime gifts, trusts and the use of exemptions and reliefs. We can’t eliminate tax entirely, but we can minimise it within the law.

What’s the difference between a will and a trust?

A will sets out what happens to your assets when you die. It only takes effect on death. A trust is a legal structure that holds assets for the benefit of others, and it can be created during your lifetime or on your death (through your will). Trusts are useful for protecting assets, managing how and when beneficiaries receive their inheritance and reducing inheritance tax.

Do I need a solicitor if I already have a will?

Possibly. If your will was written more than five years ago, or if your circumstances have changed significantly since it was drafted, it’s worth having it reviewed. Tax laws change, family situations change and what worked ten years ago may no longer be the best approach. We offer will reviews as part of our service.

Speak to a wealth planning solicitor today

If you have substantial assets and you want to make sure they’re properly protected, we can help. If you are facing a dispute over an inheritance, trust or estate, our specialist private wealth dispute solicitors can help you resolve the matter.

Call us on 020 7485 8811 or fill in the contact form below to arrange a free initial consultation. We’ll discuss your circumstances, explain what we can do and give you a clear costs estimate.

There’s no obligation and no pressure. We’re here to give you the advice you need to make informed decisions about your wealth.