Major Life Events in 2026? The Estate Planning Checks to Make Before 2027

Life rarely stands still. Whether you've bought a home, welcomed a child, gotten married, divorced, started a business or received an inheritance during 2026, these milestones can have a significant impact on your estate planning. As 2027 approaches, now is the ideal time to review your arrangements and ensure your wishes remain protected.

Many people assume that once they have made a Will, nothing more needs to be done. In reality, major life events can affect how your estate is distributed, who makes decisions on your behalf, and whether your loved ones will face unnecessary complications in the future.

Here are the key estate planning checks to make before entering 2027.

Review Your Will 

One of the most important estate planning tasks is reviewing your Will following a significant life event. 

Events that should trigger a review include: 

• Getting married or entering a civil partnership 
• Divorce or separation 
• Having children or grandchildren 
• Purchasing property 
• Starting or selling a business 
• Receiving a substantial inheritance 
• Changes to your financial circumstances 

Many people are unaware that marriage can revoke an existing Will unless it was specifically made in contemplation of that marriage. Also, if your family circumstances have changed, your current Will may no longer reflect your wishes. 

Reviewing your Will ensures the right people inherit your estate and that appropriate guardians are appointed for any children under 18. 

Consider Lasting Powers of Attorney 

Estate planning is not only about what happens after death. It should also address what would happen if you lost the ability to make decisions for yourself. 

A Lasting Power of Attorney (LPA) allows trusted individuals to make decisions on your behalf if you become unable to do so. 

There are two types: 

• Property and Financial Affairs LPA 
• Health and Welfare LPA 

Without an LPA in place, family members may need to apply to the Court of Protection for authority to act, which can be costly and time-consuming. 

If you have experienced major life changes during 2026, now is a good opportunity to review whether your chosen attorneys remain appropriate. 

Check How Your Property Is Owned 

If you own property jointly with another person, it is important to understand how ownership is structured. 

Property can usually be held as: 

Joint Tenants 

Ownership automatically passes to the surviving owner when one person dies. 

Tenants in Common 

Each owner holds a defined share of the property which can be left to beneficiaries through a Will. 

Following marriage, separation, property purchases or changes in family circumstances, reviewing how your property is owned can form an important part of your wider estate planning strategy. 

Review Beneficiary Nominations 

Some assets pass outside of your Will entirely. 

These may include: 

• Life insurance policies 
• Death in service benefits 
• Pension schemes 
• Certain investment products 

Outdated beneficiary nominations can result in assets passing to unintended recipients. 

If your circumstances changed in 2026, check any nominations held by pension providers, insurers or employers to ensure they still reflect your wishes. 

Plan for Inheritance Tax 

Inheritance Tax planning is becoming increasingly important and although not everyone will have an Inheritance Tax liability, it is worth reviewing: 

• The value of your estate 
• Property ownership arrangements 
• Gifts made during your lifetime 
• Trust arrangements 
• Available allowances and exemptions 

Taking advice early may help minimise potential tax liabilities and preserve more of your estate for future generations. 

Business Owners Should Review Succession Plans 

If you started, expanded or sold a business during 2026, your estate plan should reflect these changes. 

Business owners should consider: 

• Who would inherit business interests 
• Whether shareholder agreements remain up to date 
• Business succession planning 
• Power of attorney arrangements for business decisions 

Failing to address these issues can create uncertainty for both family members and business partners. 

Update Guardianship Provisions 

Parents of young children should review the guardians named in their Will regularly. 

This is especially important if you have welcomed a child during 2026 or if your chosen guardians' circumstances have changed. 

Without clear guardianship provisions, decisions regarding a child's future care may not align with your preferences. 

 

Major life events often serve as a reminder that circumstances can change unexpectedly. Reviewing your Will, Lasting Powers of Attorney and wider estate planning arrangements before 2027 can provide valuable peace of mind and help protect those who matter most. 

Professional legal advice can help ensure your plans remain aligned with your current circumstances and future wishes. 

Need Help Reviewing Your Estate Plan? 

Whether you need a new Will, advice on estate planning, or assistance preparing Lasting Powers of Attorney, the specialist team at QualitySolicitors can help. 

Contact QualitySolicitors to discuss your estate planning needs and ensure your arrangements are ready for 2027.