Recent legislative changes have made it more important for those without a Will in 2026 to consider making one using professional services like Wills solicitors in North Wales.
There are several reasons why it is essential to take these steps such as the increasing numbers of people in a complex or blended family situation.
One recent change was the updating of the Inheritance Tax Nil Rate regulations in the Autumn Budget in 2025. This resulted in tax bands being frozen until 2031, meaning more professional support may be needed to ensure that the impact of this is minimal. Other adjustments include tax amendments to personal pensions, so it is more important than ever to include all pension and savings in the details of a Will.
Although issues like inheritance tax grabbed the headlines, there were other changes in the budget which could have an equally important impact. The Infected Blood Compensation scheme, for instance, could mean that more people will have unexpected assets; Wills may need reassessing to include these pay outs.
Wills solicitors also noted that taxation on savings and property will rise by 2% in April 2026, and a 2% rise will also be applied to dividends. Caps on ISAs and additional council tax surcharges on higher-cost properties might also have a significant impact on those who are starting to think about making a Will.
Talk to us at Bennett Smith Solicitors today and ask for a meeting with an advisor to discuss estate planning and making a Will.
