Quick answer
The Labour government’s 2025 inheritance tax plans typically involve changes to how the nil-rate band (currently £325,000 (gov.uk — Inheritance Tax) for individuals in England and Wales) and residence nil-rate band operate, with modifications generally expected to take effect from 6 April 2026 onwards. These changes may affect how assets pass to beneficiaries and could impact the 7-year rule for gifts, though the exact implications will depend on your individual circumstances and estate composition. Professional advice is generally recommended to understand how these modifications may apply to your specific situation, particularly if you own residential property or have substantial assets. This guide explains the key changes to inheritance tax thresholds in 2026/27, how the residence nil-rate band may be affected, and what steps you may need to take to protect your estate.
Last reviewed: 24 May 2026 by the MP Estate Planning editorial team. Jurisdiction: England and Wales. Scotland and Northern Ireland have different probate and intestacy rules; the IHT thresholds are UK-wide.
The UK government has announced significant changes to Inheritance Tax (IHT) plans for 2025 and beyond, aiming to modernise the system and address fiscal challenges.
As a homeowner in the UK, it’s essential to understand these changes to protect your estate from unnecessary tax burdens. Our team of specialists is here to guide you through the process and help you safeguard your legacy.
We recommend seeking professional advice to ensure you’re taking the right steps to protect your estate. You can fill out our contact form, call us at 0117 440 1555, or book a call with our team today.
Key Takeaways
- Understanding the changes to IHT plans for 2025 is crucial for UK homeowners.
- The Labour government’s plans aim to address perceived inequities in the tax system.
- Seeking professional advice can help you protect your estate from unnecessary tax burdens.
- Our team of specialists is here to guide you through the process.
- It’s essential to take proactive steps to safeguard your legacy.
What is Inheritance Tax?
Three rule changes you may need to consider (2026/27)
1. Pensions become subject to IHT from 6 April 2027. Most unused defined-contribution pension pots currently sit outside the estate for IHT — that ends on 6 April 2027 (gov.uk policy paper). HMRC estimates around 10,500 estates will face IHT for the first time as a result.
2. Business and agricultural property reliefs capped at £2.5m per person from 6 April 2026. Above the cap, only 50% relief applies — effective IHT of 20%. AIM shares dropped to 50% relief and do not use the £2.5m allowance (Saffery — APR/BPR reforms).
3. The NRB, RNRB and £2m taper threshold are frozen until 5 April 2031 following the 2024 and 2025 Budgets (gov.uk — NRB and RNRB freeze). With inflation, more estates will be pulled into IHT each year — a process commonly called “fiscal drag.”
Understanding Inheritance Tax is crucial for effective estate planning in the UK. Inheritance Tax is a tax on the estate of a deceased person, and it’s essential to understand how it works to ensure that your loved ones are not burdened with a significant tax bill.
Understanding Inheritance Tax in the UK
In the UK, Inheritance Tax is charged on the value of an estate above the outside the scope of IHT allowance. This allowance is known as the Nil Rate Band, which currently stands at £325,000. Additionally, there’s a Residence Nil Rate Band of £175,000 (gov.uk — RNRB) if the deceased’s home is left to direct descendants. This means that many families can pass on their estate without incurring Inheritance Tax, provided the total value does not exceed these thresholds.
For more detailed information on the current Inheritance Tax regulations, you can visit KPMG’s insights on Inheritance Tax changes.
Current Thresholds and Rates
The current rate of Inheritance Tax is 40% on the value of the estate above the Nil Rate Band. To illustrate how this works, let’s consider an example:
| Estate Value | outside the scope of IHT Allowance | Inheritance Tax |
|---|---|---|
| £500,000 | £325,000 (Nil Rate Band) + £175,000 (Residence Nil Rate Band) | £0 (since £500,000 is within the total outside the scope of IHT allowance of £500,000) |
| £600,000 | £500,000 | £40,000 (40% of £100,000) |
It’s also worth noting that there are strategies to minimize Inheritance Tax, such as gifting assets during your lifetime or setting up trusts. For professional advice on Inheritance Tax planning, consider consulting experts like those at MP Estate Planning.
Overview of Labour’s 2025 Inheritance Tax Plans
The Labour party’s proposed reforms to Inheritance Tax are set to reshape the landscape of estate planning in the UK. As we approach 2025, it’s essential to understand the implications of these changes for estates and beneficiaries.
The Labour government plans to change the scope of Inheritance Tax (IHT) from a domicile-based tax to a residency-based one. This shift will particularly affect non-UK domiciled individuals who have been resident in the UK for a certain period. The proposed change aims to ensure that those who have made the UK their home for tax purposes are treated similarly to UK-domiciled individuals when it comes to IHT.
Proposed Changes to Current Legislation
One of the key aspects of the Labour government’s 2025 IHT plans is the transition to a residency-based tax system. Currently, IHT is based on an individual’s domicile status. The proposed change will mean that non-UK domiciled individuals who have been resident in the UK for a certain number of years will be subject to IHT on their worldwide assets, not just those situated in the UK.
Additionally, the thresholds for IHT are expected to remain frozen until at least 2030. This freeze means that more estates will be drawn into the IHT net as property values rise, potentially increasing the tax burden on families.
Impact on Estates and Beneficiaries
The proposed changes to IHT legislation will have significant implications for estates and beneficiaries. For non-UK domiciled individuals, the shift to a residency-based tax system could result in a larger tax liability on their worldwide assets. This change may necessitate a review of existing estate planning strategies to mitigate potential IHT liabilities.
Beneficiaries may also feel the impact, as the increased tax burden on estates could result in reduced inheritances. It’s crucial for individuals to review their estate plans and consider strategies to minimize IHT, such as gifting assets or setting up trusts.
As we move towards 2025, staying informed about these changes and seeking professional advice will be key to protecting your estate and ensuring that your beneficiaries receive the maximum inheritance possible.
Key Objectives of Labour’s Plans
The Labour government’s proposed changes to Inheritance Tax are centred around two primary goals: fairness and protection. As we explore these objectives, it becomes clear that the reforms are designed to address perceived inequities within the current tax system.
Fairness in Taxation
One of the main aims of Labour’s Inheritance Tax plans is to ensure fairness in taxation. This involves closing loopholes that currently allow some individuals to avoid paying their fair share. By tightening rules around trusts and gifts, the government hopes to create a more equitable system.
We understand that these changes can have significant implications for families and their estate planning strategies. It’s crucial to stay informed about the proposed reforms and how they might affect you.
Protecting Family Homes
Another key objective is protecting family homes from increased tax burdens. The Labour government is considering measures to prevent families from being forced to sell their homes to pay Inheritance Tax. This could involve revising the way in which residential properties are valued and taxed upon inheritance.
By protecting family homes, the government aims to preserve the financial security of families and ensure that they can pass on their assets to future generations without undue burden.
As these plans continue to evolve, we will provide updates and insights to help you navigate the changes. Our goal is to ensure that you have the information you need to make informed decisions about your estate planning.
Strategies for Minimising Inheritance Tax
As we navigate the complexities of inheritance tax, it’s essential to explore strategies that can help minimise its impact on your estate. Effective estate planning is key to reducing the tax burden and ensuring that your loved ones receive the maximum benefit from your legacy.
Effective Estate Planning Techniques
One of the most effective ways to minimise inheritance tax is through careful estate planning. This involves assessing your current financial situation, understanding the current inheritance tax thresholds and rates, and making informed decisions about how to structure your estate. We recommend considering the following techniques:
- Making use of exemptions and reliefs available under current tax laws
- Utilising lifetime gifts to reduce the value of your estate
- Establishing trusts to manage and distribute your assets according to your wishes
By implementing these strategies, you can significantly reduce the inheritance tax liability on your estate. It’s also important to regularly review and update your estate plan to ensure it remains aligned with your goals and adapts to any changes in the tax landscape, such as the proposed estate duty 2025 changes.
Gifts and Trusts as Solutions
Gifts and trusts are valuable tools in minimising inheritance tax. By gifting assets during your lifetime, you can reduce the value of your estate and lower the tax payable upon your passing. It’s crucial to understand the rules surrounding gifts, including the potential for certain gifts to be considered for inheritance tax if made within a specific period before death.
Trusts offer another effective solution, allowing you to manage how your assets are distributed while also providing tax benefits. Different types of trusts can be used to achieve various estate planning goals, from providing for loved ones to supporting charitable causes. We can help you navigate the complexities of establishing and managing trusts as part of your overall estate plan, taking into account the UK inheritance tax proposals and how they may impact your decisions.
Who will be Affected by the New Plans?
As Labour’s 2025 Inheritance Tax plans take shape, it’s essential to understand who will be impacted by these changes. The proposed reforms are expected to have significant implications for various groups, particularly those with high-value estates and non-domiciled individuals.
Estimated Impact on Different Income Levels
The changes are likely to affect individuals across different income levels, but the impact will vary significantly. Those with higher-value estates will be more affected due to the potential changes in Inheritance Tax thresholds and rates.
For lower and middle-income families, the impact might be less severe, but it’s still crucial to assess how the changes could affect their estate planning. The freeze on thresholds, for instance, could impact estates that grow in value due to inflation, potentially pushing more families into the Inheritance Tax bracket.
Potential Consequences for High-Value Estates
High-value estates are likely to be significantly affected by the new plans. The proposed changes could lead to a substantial increase in the Inheritance Tax liability for these estates, potentially resulting in beneficiaries having to pay more tax.
For example, families with significant assets, such as property portfolios or business interests, may need to reconsider their estate planning strategies to mitigate the impact of the new tax policies. Seeking professional advice will be crucial in navigating these changes effectively.
We understand that navigating the complexities of Inheritance Tax can be challenging. Our team is here to provide guidance on how to protect your estate and ensure that your loved ones are well taken care of. By understanding the implications of Labour’s 2025 Inheritance Tax plans, you can make informed decisions about your financial future.
Comparing Labour’s Plans to Current Government Policies
Understanding the nuances between Labour’s 2025 inheritance tax plans and the current government’s policies is crucial for effective estate planning. As we navigate these changes, it’s essential to grasp how the proposed reforms might impact your estate.
Key Differences and Similarities
Labour’s proposed inheritance tax reforms for 2025 introduce a residency-based tax system, marking a significant shift from the current government’s policies. The key differences include:
- Residency-based taxation: Labour’s plan focuses on the residency of the deceased rather than their domicile.
- Potential for increased tax liability: Estates with significant assets or complex family structures may face higher tax bills.
- Aim for fairness: The proposed changes aim to make the tax system more equitable by targeting estates with higher values.
Despite these changes, there are similarities between Labour’s plans and the current policies, such as the continued exemption of certain assets from inheritance tax.
Public Reception of Proposed Changes
Public reception of Labour’s inheritance tax proposals has been mixed. Some stakeholders support the reforms as a step towards a fairer tax system, while others express concern about the potential impact on family homes and businesses.
The key concerns include:
- The potential for increased tax liability for some estates.
- The complexity of implementing a residency-based tax system.
- The impact on family homes and businesses.
As we move forward, it’s crucial to stay informed about these changes and their potential implications for your estate planning.
Importance of Professional Advice in Estate Planning
As the Labour government’s 2025 Inheritance Tax plans unfold, seeking professional advice becomes increasingly crucial for effective estate planning. The complexities of Inheritance Tax and the potential changes to it make it essential for individuals to consult with experts to ensure their estates are protected.
Consulting Financial Advisors
Financial advisors play a vital role in estate planning by providing tailored guidance on minimising tax liabilities. They can help you navigate the intricacies of estate duty 2025 and other changes, ensuring that your estate is managed in a way that benefits your loved ones. By assessing your financial situation and goals, financial advisors can recommend strategies such as gifts and trusts to reduce your estate’s tax burden.
For instance, a financial advisor can help you understand how the Inheritance Tax planning in Bolton might affect your estate and suggest appropriate measures. Their expertise is invaluable in making informed decisions about your estate.
Legal Considerations for Your Will
Legal experts are essential in ensuring that your will is drafted and executed correctly, taking into account the latest inheritance tax changes. They can provide advice on how to structure your will to minimise tax liabilities and ensure that your wishes are carried out. Moreover, legal professionals can help you navigate any disputes or challenges that may arise.
With the Labour government tax plans potentially impacting your estate, it’s crucial to review your will and estate plan with a legal expert. They can help you make necessary adjustments to protect your estate and loved ones, ensuring that your legacy is preserved according to your intentions.
Steps to Prepare for Potential Changes in 2025
As the UK’s inheritance tax landscape is set to evolve in 2025, it’s crucial to review your estate planning strategy. The proposed changes by Labour aim to make inheritance tax more equitable, but they also introduce new complexities for estate planning. We will guide you through the necessary steps to prepare for these potential changes.
Assessing Your Current Estate Planning Strategy
To navigate the upcoming changes effectively, start by assessing your current estate planning strategy. This involves reviewing your assets, understanding their valuation, and identifying potential tax liabilities. Consider consulting a financial advisor to get a comprehensive view of your estate’s worth and how it might be affected by the new rules.
It’s also essential to consider the following key areas:
- Current asset distribution and potential tax implications
- Existing trusts and their roles in your estate planning
- Gifts made in recent years and their potential impact
Making Adjustments Ahead of Time
Once you have a clear picture of your estate, you can begin making adjustments ahead of time. This might involve restructuring your assets, updating your will, or setting up new trusts. We recommend working closely with a financial advisor to tailor your estate plan to the anticipated changes.
Some potential adjustments to consider include:
- Revising your will to reflect the new tax thresholds
- Utilizing tax-efficient gifting strategies
- Establishing or adjusting trusts to minimize tax liabilities
To illustrate the potential impact of the changes, let’s consider a hypothetical scenario:
| Estate Value | Current Tax Liability | Projected Tax Liability under 2025 Rules |
|---|---|---|
| £500,000 | £0 | £0 |
| £1,000,000 | £200,000 | £250,000 |
| £2,000,000 | £600,000 | £800,000 |
As shown in the table, the projected tax liabilities under the 2025 rules could significantly increase for higher-value estates. It’s a stark reminder of the importance of proactive estate planning.
“The key to successful estate planning is staying ahead of the curve. By understanding the upcoming changes and adjusting your strategy accordingly, you can protect your assets and ensure a smoother transition for your beneficiaries.”
By taking proactive steps now, you can mitigate the impact of the 2025 inheritance tax updates on your estate. We are here to guide you through this process, ensuring that your estate planning is both effective and compliant with the new regulations.
Frequently Asked Questions
With the Labour party’s 2025 inheritance tax plans on the horizon, many are left wondering how these changes will impact their personal tax liabilities. As we navigate these proposed reforms, it’s essential to address the common queries and misconceptions surrounding inheritance tax.
Common Queries Regarding Inheritance Tax
One of the most frequently asked questions is: “How will the proposed changes to inheritance tax affect my estate?” The answer lies in understanding the current thresholds and how the new plans might alter them. Currently, the nil-rate band stands at £325,000, and the residence nil-rate band is £175,000. Any changes to these thresholds could significantly impact the tax liability of your estate.
Another common query revolves around the potential impact on family homes. “Will the new inheritance tax plans affect my ability to pass on my family home to my children?” The answer depends on various factors, including the value of your estate and the specific provisions of the proposed reforms.
- Key Considerations:
- The value of your estate and how it compares to the nil-rate bands.
- The potential for changes in the residence nil-rate band and its implications.
- The importance of reviewing your will and estate planning strategy.
Clarifying Misconceptions
A common misconception is that inheritance tax is only a concern for the wealthy. However, with the increasing value of properties in the UK, many more families are finding themselves within the scope of inheritance tax. “I’ve heard that gifts to children are subject to inheritance tax; is this true?” Gifts made during your lifetime can be subject to inheritance tax under certain circumstances, such as if you die within seven years of making the gift.
“The key to effective estate planning is understanding the rules and making informed decisions about your assets.” – Expert in Estate Planning
To clarify, gifts made more than seven years before your passing are generally not subject to inheritance tax. However, gifts made within this period may be considered when calculating your estate’s tax liability.
By addressing these common queries and misconceptions, we hope to provide clarity on the implications of Labour’s 2025 inheritance tax plans. It’s crucial to stay informed and review your estate planning strategy to ensure you’re prepared for any changes.
Get Expert Help with Your Legacy Planning
As the Labour government tax plans unfold, understanding the impact of estate duty2025 and inheritance tax labour plans2025 on your estate is crucial. We can help you navigate these changes and ensure your legacy is protected.
Our team of experts is available to provide tailored advice on estate planning and Inheritance Tax. We will work with you to create a personalized plan, safeguarding your estate and ensuring your wishes are carried out. You can contact our team to discuss your specific needs and circumstances.
Protecting Your Estate from Unnecessary Tax
With the proposed changes to inheritance tax, it’s essential to review your current estate planning strategy. We can help you identify areas where you can minimize tax liabilities and maximize the value of your estate.
Take the First Step
To protect your estate and ensure your legacy, fill out our contact form or call us at 0117 440 1555 to book a call with our specialists. We’re here to guide you through the complexities of the new rules and help you create a plan that works for you.
FAQ
What are the main changes to Inheritance Tax proposed by the Labour government in 2025?
The Labour government plans to introduce a residency-based tax system and continue the freeze on Inheritance Tax thresholds, potentially increasing tax liabilities for certain estates.
How will the new Inheritance Tax plans affect high-value estates?
High-value estates may face increased tax liabilities due to the changes in Inheritance Tax rules, particularly the shift to a residency-based system and the continued freeze on tax thresholds.
What are the key objectives behind Labour’s Inheritance Tax plans?
The Labour government aims to address perceived inequities in the tax system, ensuring the wealthy contribute their fair share, and protect family homes.
How can individuals minimise Inheritance Tax under the new plans?
Effective estate planning techniques, such as using gifts and trusts, can help reduce the tax burden on estates, ensuring more wealth is passed on to loved ones.
Will the new Inheritance Tax plans affect all income levels equally?
The impact of the new plans will vary across different income levels, with higher-income individuals and families potentially facing greater tax liabilities.
What steps can I take to prepare for the potential changes in Inheritance Tax rules in 2025?
Assessing your current estate planning strategy and making adjustments ahead of time can help minimise the impact of the new rules.
How will the Labour government’s Inheritance Tax plans differ from the current government’s policies?
The Labour government’s plans introduce a residency-based tax system, marking a significant shift from the current system.
Why is it essential to seek professional advice in estate planning, particularly with the upcoming changes to Inheritance Tax?
Consulting financial advisors and legal experts can help individuals create effective plans to protect their estates and ensure their wishes are carried out.
What is the current Inheritance Tax threshold in the UK?
The current threshold is £325,000, above which estates are subject to Inheritance Tax, with a potential additional allowance for main residences.
How will the freeze on Inheritance Tax thresholds affect estates?
The freeze will mean that more estates will be drawn into the tax net as asset values rise, potentially increasing tax liabilities.
What role do gifts and trusts play in minimising Inheritance Tax?
Gifts and trusts can be effective tools in reducing the tax burden on estates by transferring wealth out of the estate.
Concerned about how Labour’s inheritance tax plans could affect you?
Schedule a free consultation with our team to explore setting up a trust.
How Labour’s October 2024 Budget Changes Affect Agricultural Relief, Business Property, and Pension Pots
The Autumn Budget of October 2024 introduced some of the most significant reforms to inheritance tax relief structures seen in a generation. For estates that previously relied on Agricultural Property Relief (APR) or Business Property Relief (BPR) to shelter substantial assets from the 40% IHT rate, the confirmed changes represent a material shift in planning assumptions. In our experience, many families with mixed estates — combining farmland, trading company shares, and AIM-listed portfolios — will need to revisit structures that may have been in place for years.
Changes to Agricultural and Business Property Relief
Prior to the Budget, qualifying agricultural land and trading business assets could typically attract 100% relief from inheritance tax, effectively placing them outside the scope of IHT regardless of value. From 6 April 2026, the government has confirmed that the combined value of assets attracting APR and BPR at 100% will be capped at £1 million per individual. Above that threshold, relief will generally be reduced to 50%, meaning the effective IHT rate on the excess will be 20% rather than zero. You can review the government’s published policy paper on these changes via GOV.UK: Changes to Agricultural Property Relief and Business Property Relief from Inheritance Tax. For farming families and business owners with estates valued well above £1 million in qualifying assets, this may require careful restructuring — and in most cases, early action will be more effective than waiting.
AIM Portfolios and the Reduced 50% Relief
AIM-listed shares have historically been a widely used estate planning vehicle because many qualifying holdings attracted 100% BPR after a two-year holding period, placing them outside the scope of IHT entirely. Under the October 2024 changes, AIM shares that qualify for BPR will now generally only attract 50% relief from April 2026, irrespective of the £1 million combined cap. This halving of the effective relief is significant. Investors who built AIM portfolios specifically for IHT mitigation purposes will need to model revised tax liabilities and consider whether alternative or complementary strategies remain appropriate for their circumstances.
Pension Pots and the 2027 IHT Changes
Perhaps the most far-reaching change confirmed in the 2024 Budget concerns defined contribution pension pots. From 6 April 2027, unused pension funds will typically be brought within the scope of inheritance tax for the first time. Currently, pension funds passed on death are generally outside the scope of IHT and represent one of the most tax-efficient ways to transfer wealth. Once this change takes effect, the pension pot will in most cases be added to the deceased’s estate for IHT purposes before any remaining funds are distributed to beneficiaries. For individuals who have deliberately preserved pension assets as an intergenerational transfer vehicle — for example, drawing from ISAs or property first — this fundamentally alters the planning logic. Estates containing both a substantial pension fund and property may find that the interaction between the £325,000 nil rate band, the £175,000 Residence Nil Rate Band, and pension assets produces a significantly higher IHT liability than previously modelled. Our team works with clients to map these interactions before the 2027 commencement date, as the window for restructuring existing arrangements may be narrower than it appears.
Common Questions About Inheritance Tax and Labour’s Proposed Changes
What’s the maximum you can inherit without paying tax?
There is no single fixed figure that applies to every estate, but the key thresholds work as follows. Every individual has a standard nil rate band of £325,000, which is frozen at that level until at least April 2030. On top of this, a Residence Nil Rate Band (RNRB) of £175,000 may apply where a residential property is left to direct descendants such as children or grandchildren. This gives a potential combined allowance of £500,000 per individual. Where a spouse or civil partner has died and left their unused allowances to the survivor, a couple may collectively shelter up to £1 million from inheritance tax. Assets above these thresholds are generally subject to IHT at 40%. It is worth noting that the RNRB begins to taper away for estates valued above £2 million, reducing by £1 for every £2 above that threshold.
Can I use my deceased husband’s inheritance tax allowance?
Yes, in most cases the unused nil rate band and unused Residence Nil Rate Band of a deceased spouse or civil partner can be transferred to the surviving spouse’s estate. This is sometimes called the transferable nil rate band. For example, if a husband died without using any of his nil rate band, the surviving wife’s executors may be able to claim a 100% uplift, effectively doubling the available threshold on her death. The same principle applies to the Residence Nil Rate Band. HMRC guidance on claiming the transferable nil rate band is available at GOV.UK: Inheritance Tax — Claim to Transfer Unused Nil Rate Band (IHT402). Claims must generally be made within two years of the death of the surviving spouse, so timely administration of the estate matters.
What changes are likely to be made to inheritance tax?
Several confirmed and proposed changes are now in motion. The nil rate band freeze until April 2030 continues to increase the number of estates drawn into IHT through fiscal drag alone. From April 2026, APR and BPR will be capped at 100% relief on the first £1 million of qualifying assets, with 50% relief above that level. AIM shares qualifying for BPR will typically attract only 50% relief from the same date. From April 2027, unused defined contribution pension pots will generally be brought within the scope of IHT. These are confirmed changes, not proposals. Further reforms remain subject to consultation and parliamentary process, so it is advisable to seek guidance from a regulated professional before making significant structural decisions based on anticipated future changes.
What assets are excluded from inheritance tax?
Certain assets are generally outside the scope of IHT or attract relief that reduces the taxable amount. These may include: assets passing between spouses or civil partners who are both domiciled in the UK (covered by the spousal exemption); qualifying charitable gifts; currently, pension funds on death (though this changes from 2027); assets attracting full APR or BPR within the confirmed limits; and certain life assurance policies written in trust where the proceeds do not fall into the estate. ISAs, property, savings, and investments generally do form part of the taxable estate. The position on any given asset type can be complex, and in our experience, assumptions made without a full review of the estate’s composition can lead to significant planning gaps.
Are there any changes to inheritance tax?
Yes. The October 2024 Autumn Budget confirmed several substantive changes, as outlined above. These are not speculative — they are legislated or formally announced policy changes with commencement dates. The freeze on the nil rate band at £325,000 until April 2030 means that in real terms, the threshold against which the 40% rate is charged continues to erode. Families who have not reviewed their estate plans since before October 2024 may find their projected IHT liability has increased materially, even without any change in the value of their assets. Our team regularly helps clients model the before-and-after position under the new rules, particularly where estates include a mix of property, pension funds, and business or agricultural interests.