Inheritance Tax (IHT) can significantly reduce the value
ultimately passed on to your loved ones. At
Wealth Genius,
we advice NHS professionals, doctors and GPs in structuring their estate so their
wishes
are respected and more of their wealth is preserved for future generations.
Estate planning is about ensuring the people you love are taken care of when you’re no longer here. It involves deciding how your home, savings, pensions and other assets will be passed on in a way that reflects your wishes and helps avoid unnecessary tax.
At Wealth Genius, we understand that NHS staff, doctors and GPs often have uniquely complex financial journeys — from variable or high-precision income structures to valuable NHS pensions and significant property wealth. With the right planning, you can protect what you’ve worked so hard for and make a meaningful difference to the inheritance your family receives.
Estate planning is more than a financial exercise. It’s about peace of mind, clarity, and knowing that your legacy is secure, your wishes are respected, and your loved ones have the support they need at a difficult time.
| Valuing your estate | A clear picture of everything you own — property, pensions, savings and gifts. |
| Inheritance Tax thresholds | Simple guidance on how IHT allowances apply to your family. |
| Making a Will | Support to create a Will that protects the people you care about. |
| Lasting Power of Attorney | Helping you choose trusted people to make decisions if you ever need them. |
| Gifting and exemptions | How to use allowances, regular gifts and donations to reduce future tax. |
| Trusts and life cover | Ways to protect your assets and plan ahead for Inheritance Tax. |
| Business & Agricultural Relief | Support for business or farm owners, including upcoming 2026 changes |
Will writing is not part of the Quilter Financial Planning offering and is offered in our own right. Quilter Financial Planning accept no responsibility for this aspect of our business.
If you leave your main home to your children or grandchildren, you may benefit from the Residential Nil-Rate Band (RNRB), which gives an extra £175,000 tax-free allowance on top of the standard Nil-Rate Band.
However, this relief reduces for estates over £2 million, so planning becomes especially important for NHS staff and doctors with higher property values or multiple assets.
We help you understand how RNRB fits with your family plans, pension benefits and overall estate strategy.
When to review your estate plan. Your estate plan should grow and change with your life. It’s not something you set up once and forget. You may need to review it when:
Regular reviews make sure your wishes stay up to date and your family is always protected, whatever life brings next.
Immediate
Immediate Reduction in Estate Value (the “discount”), Retained Access to regular income
No access to capital, Health Assessment required
2 Years
Keep control of your money while gaining fast IHT relief
Higher investment risk often involves AIM or unquoted shares
7 years
Reduces the size of your estate and offers flexibility
Uses some of your Nil-Rate Band and you lose access to the money gifted
Immediate
Helps cover future IHT bills and protects your Nil-Rate Band
Ongoing premiums and medical checks may be required
Keeping good records makes life much easier for your loved ones later on. HMRC may ask your executors to prove any gifts, exemptions or transfers you made during your lifetime. Clear, organised records help your estate qualify for the right reliefs and can reduce delays during probate.
Good record keeping is one of the simplest ways to protect your family from stress at an already difficult time.
Many NHS professionals have family, property or savings overseas.
If you’re UK-domiciled, Inheritance
Tax can apply to your worldwide estate — not just the assets held in the UK.
If you own assets abroad, it’s important to align your UK inheritance planning with local laws in those countries. This helps avoid conflicts, surprises, or unintended tax bills later on.
We can help you understand how everything fits together, wherever your assets are held.
Your NHS pension, property, savings and investments all play a part in your estate. We help you align every element so your family receives more of what you’ve worked so hard to build.
We show you exactly how different decisions — retirement timing, pension choices, gifting strategies, protection planning — could affect your estate now and in the future. Clear comparisons help you make confident, informed decisions.
No jargon. No unnecessary complexity. Just straightforward explanations you can trust, tailored to how you like to understand information.
Tax rules, thresholds and pension legislation change regularly. We keep everything under review and update your plan so it continues to work hard for you and your family.
IHT is a tax on the total value of someone’s estate at death, including property, investments, cash, and qualifying gifts. It applies if the value exceeds specified tax-free allowances.
The NRB is the first £325,000 of an estate passed on without IHT. Any value above this is usually taxed at 40%.
The RNRB is aAn extra £175,000 allowance for a main home passed to direct descendants. The relief is tapered for estates over £2 million
Gifts under £3,000/year (annual exemption), small gifts (£250 each), and wedding gifts below limits are tax-free. Larger gifts require the giver to survive seven years for full exemption. However, ‘taper relief’ can gradually reduced the IHT rate for large gifts made between 3-7 years before death.
Making a will ensures that your estate is distributed in regard to your wishes. It can also help with IHT planning. If you don’t make a will, otherwise known as ‘intestacy’, your assets are distributed by default rules. This may not reflect your wishes, and could lead to delays or tax inefficiency.
Taper relief gradually reduces the IHT rate for larger gifts made between three and seven years before death.
Certain trusts allow assets to be removed from the estate for tax purposes; they vary in complexity and may trigger immediate or periodic charges.
