What Is Estate Planning and Why Is It Important?

19th March 2026

Updated: Thursday 26th March 2026

What Is Estate Planning and Why It’s Important for Protecting Your Future

So what is estate planning and why is it important? Many people are starting estate planning earlier in the UK, and this shines a light on how estate planning used to feel like something to deal with in old age, but how now it feels like that view is finally changing.

Recent industry research shows that people in the UK are strategically putting plans in place earlier than ever, often towards the end of their career or in early retirement.

The rationale seems to be simple – in a complex world, people want to retain control over their finances, family arrangements and long term care by any means necessary.

Why is estate planning no longer just a job for your old age?

This recent private client industry report from Leap Estates analysed hundreds of thousands of legal documents across England and Wales, clearly highlighting this trend, with their data including more than 240,000 wills and over 176,000 lasting powers of attorney created during 2025.

It showed people are becoming more aware of the importance of planning for incapacity, protecting assets and making sure their wishes are clear if it ever came to it.

Interestingly, planning is now beginning in their 40s or 50s, rather than their 70s.

Is longer life expectancy changing decisions about planning?

Longer life expectancy is a big driver.

People are living longer than their parents, which means their finances and care arrangements may need to last for decades longer than they used to.

Conditions like dementia are expected to rise significantly, which is why many people are creating an LPA earlier to ensure someone they trust can manage decisions if they lose capacity.

Why are trusts becoming more common in wills?

The same research showed that trusts are now being included in a growing number of wills, with more than a third of wills reviewed in the research including at least one trust.

Trusts can help protect assets and control how money is passed on to future generations.

They are also useful for families where inheritance needs to be managed carefully and seem to be playing a bigger role in estate planning from this new, strategic perspective.

Do modern family structures add complexity?

Blended families, second marriages and stepchildren are far more common than they were in previous generations, showing that family life isn’t always straightforward.

This can all make inheritance planning more complicated though, so wills and trusts are being used together to create a clear plan for everyone.

Why should a Lasting Power of Attorney be part of modern estate planning?

A misconception is estate planning is just about what happens after death.

But it can also involve planning for situations where someone may lose the ability to make decisions during their lifetime.

In these circumstances, a Power of Attorney will be essential because it allows you to appoint trusted people to manage finances or make health decisions if you lose mental capacity.

Without one, family members may need to apply to the Court of Protection, which can take months and add stress at an already difficult time.

Planning earlier gives you more control

The overall message from Leap Estates seems abundantly clear: estate planning is more relevant than ever earlier in life because people want clarity, protection and control over important decisions if they ever need it.

Creating a will and arranging a Lasting Power of Attorney using a service like Power of Attorney Online are two of the more practical steps you can take to help protect your future.

Starting earlier simply gives you more time to plan carefully and do the right thing.