Estate Planning After Receiving an Inheritance

Receiving an inheritance often changes your estate significantly — and may push your own estate into inheritance tax territory for the first time. It is also an opportunity to redirect assets in a more tax-efficient way before they become part of your estate.

We advise recent inheritors on deed of variation, updating their wills, IHT planning on their new estate, and how to protect their inheritance for the next generation. Chester-based, acting across Cheshire, North Wales and England and Wales.

SRA Regulated

Free Initial Consultation

Sensitive & Confidential

Chester, Cheshire & North Wales

Speak to an Estate Planning Solicitor Request a Callback

No obligation — talk through your options first. Costs explained clearly.

What to consider after receiving an inheritance

Deed of variation — redirect the inheritance

Within two years of the death, you can redirect all or part of your inheritance to someone else — for example, to your children — using a deed of variation. This can reduce IHT on the original estate and on your own estate, and is one of the most powerful planning tools available to recent inheritors.

Update your will

Your inheritance may have significantly changed the value of your estate. If your existing will does not reflect your new circumstances — or if you do not have a will — now is the time to act.

IHT exposure review

If your inheritance has pushed your estate above the IHT threshold, we advise on the planning options available — including lifetime gifting, trust structures, and making the most of your nil rate band.

Inherited property

If you have inherited property, we advise on the IHT and CGT implications of keeping, selling, or transferring it — and how it should be addressed in your own will.

Protecting the inheritance for the next generation

We advise on how to structure your estate so that your inheritance passes to your children or grandchildren in the most tax-efficient way possible.

The two-year window for deed of variation

A deed of variation must be executed within two years of the date of death. After that, the opportunity is lost. If you have recently inherited and are considering redirecting any part of your inheritance — to children, grandchildren, or charity — you should take advice as soon as possible.

Find out more about deed of variation →

The team advising recent inheritors

Darren Steele

Senior Private Client Executive · STEP Member

Inheritance & Estate Planning

Darren advises recent inheritors on the full range of estate planning issues — including deed of variation, IHT planning on their new estate, and how to structure their inheritance to benefit the next generation.

Laura Kirton

Wills & Probate Solicitor · 10 Years Qualified

Post-Inheritance Planning

Laura regularly advises clients who have recently inherited on updating their wills and estate plans to reflect their new circumstances. She understands the emotional complexity of this period and provides clear, practical advice.

David Stahler

Wills, Trusts & Estates Executive

Estate Planning

David is our first point of contact for recent inheritors enquiring about estate planning. He brings a warm, personable approach to what can be a sensitive time.

Nikolina Vukovic

Legal Executive — Wills, Trusts & Estates

Wills & Estate Administration

Nikolina supports recent inheritors through the process of updating their wills and estate plans — ensuring their new assets are properly addressed and protected.