A visit to Poole, and a topic that is coming up in many of my discussions right now.

It was great to be down in Poole earlier this week, spending time with a couple of valued clients, getting out on the water and catching up on more than just the portfolio!

I really enjoy visiting clients and their families outside of London, whether that's Poole, Surrey, Hampshire or further afield. There’s something different about sitting down together away from the usual office environment.

And one topic that is coming up increasingly often is the changes to pensions and Inheritance Tax coming in from April 2027.

From 6 April 2027, most unused pension funds and pension death benefits will be brought into the estate for Inheritance Tax purposes. In simple terms, pensions have historically often sat outside the estate for IHT, but that is changing.

For clients with significant pension assets, this could make a real difference to how they think about their wider wealth, particularly where the intention is to pass wealth on to the next generation.

It doesn't mean that everyone with a pension will suddenly have an IHT liability. The normal allowances, exemptions and reliefs will continue to apply, and transfers to a spouse or civil partner remain exempt.

But it does mean that the role of pensions within a wider estate and succession plan is worth looking at now, rather than waiting until 2027.

It's one of the reasons these conversations are becoming much more common in my meetings with clients and their families.

As always, the right approach will depend on individual circumstances. For some people, there may be no action needed at all. For others, it could be an important part of reviewing how their pension, investments and wider estate fit together and it’s bringing the conversation forward about whether they can help children and grandchildren today.

And that’s often where a face-to-face conversation can be really valuable.

Another good reason to keep getting out on the road!