In this eye-opening conversation, I sit down with Stuart Ritchie, chartered tax advisor, estate planning expert, and author of Who Will Get My Money When I Die, to explore one of the most emotional and misunderstood aspects of later-life financial planning: inheritance tax.

This episode isn't about doom and gloom, it's about taking control. Whether you're planning for your own legacy, thinking about your children's future, or simply want to make sure the government doesn't get more than its fair share, this is a must-listen.

What You'll Learn

• Why inheritance tax is about more than just money, it's about clarity, fairness, and family harmony

• The critical role of wills and why DIY ones often cause more harm than good

• What lasting power of attorney actually does and why it's vital even if you're married

• How to avoid common traps when it comes to gifting, trusts, and tax bills

• Why talking to your family before you die might be the greatest gift you give them

Key Topics

• Wills and the rules of intestacy: what really happens if you don't plan

• The psychology of leaving a legacy: control, conflict, and clarity

• Power of Attorney: the two types and the risks of not setting one up

• Blended families, second marriages, and planning with complexity in mind

• Lifetime gifting and the 7-year rule explained

• Life assurance, pensions, and the new inheritance tax reforms

• The emotional and practical costs of poor estate planning

Resources & Mentions

• Stuart Ritchie's book: Who Will Get My Money When I Die? – available on Amazon

• Stuart's firm: www.ritchiephillips.co.uk

• The Economist & Kaiser Family Foundation study on end-of-life priorities

• UK Government: Rules of Intestacy

Reflection Exercise "What do I want to happen to my money, my possessions, and my responsibilities after I'm gone?"

Take 15 minutes today to reflect on this question. If you were to pass away tomorrow:

• Do you have a valid will in place?

• Have you named executors and powers of attorney you trust?

• Have you had conversations with those closest to you about your wishes?

• Do you know the potential tax implications of your estate?

Clarity now brings peace later, for you and everyone you love.

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