In this February 2026 webinar, Steve Gauke (Managing Director, Provira) was joined by Paul Radcliffe (probate specialist, Lorello) and George Davey (Financial Planner, Titan Wealth) to explore how recent Inheritance Tax reforms, ongoing probate pressures and liquidity constraints are affecting clients – and what advisers should be doing now.

With over 300 professionals registered to attend, the discussion reflected the increasing urgency of this topic for IFAs, brokers and legal advisers.

Below is a summary of the key themes and practical takeaways.

1. The changing IHT landscape

Paul Radcliffe opened the session with a structured overview of the most significant Inheritance Tax changes currently affecting clients.

Residence-based taxation

The move from a domicile-based to a residence-based test represents a fundamental shift.

Individuals who have been UK resident for 10 of the last 20 years may now see their worldwide assets fall within the UK IHT net.

For advisers working with internationally mobile or returning clients, this materially alters planning conversations.

Agricultural and Business Property Relief (APR/BPR)

From April 2026, full 100% relief will be limited to the first £2.5 million, with 50% relief applying above that threshold. For qualifying couples, this can combine to £5 million.

This change will disproportionately affect business owners and farming families who have historically relied on full relief.

AIM investments

Alternative Investment Market holdings, previously capable of delivering 100% relief after two years, will move to 50% relief from April 2026. This has implications for clients using AIM portfolios as an IHT mitigation strategy.

Pensions from April 2027

Perhaps the most structurally significant change discussed: pensions are expected to fall within the estate for IHT purposes from April 2027.

As George Davey noted:

“It’s no longer going to be as simple as leaving the pension until last.”

Fiscal drag

While less headline-grabbing, the freezing of IHT allowances until 2030 may have the broadest long-term impact. As asset values and property prices rise, more estates are likely to fall into scope.

Paul Radcliffe observed:

“Everything else is going up. The allowances are not.”

2. Probate delays – why Families still feel pressure

Although headline probate processing times have improved, the panel agreed that many bottlenecks occur before the probate application is even submitted.

Key pressure points include:

• IHT needing to be settled before probate is granted
• Lack of clarity around HMRC deadlines
• Executor disputes
• Outdated guidance or misinformation
• Estates that are property-rich but cash-poor
• Wills that have not been reviewed for many years

Paul Radcliffe reflected on the range of practical challenges families face:

“The scenarios are almost endless.”

For advisers, this reinforces the importance of proactive client education and realistic expectation-setting.

3. Estate Liquidity – the practical challenge

A recurring theme throughout the webinar was liquidity.

When estates are asset-heavy but cash-light, executors face immediate obligations – most notably Inheritance Tax, which must generally be addressed before probate is granted.

The panel discussed several routes available to executors:

• HMRC instalment arrangements
• Grant on credit (subject to HMRC approval)
• The direct payment scheme (where participating banks release funds directly to HMRC)
• Probate lending

Paul Radcliffe stressed the importance of adviser balance and clarity:

“What’s right for one estate won’t be right for another.”

George Davey also highlighted the regulatory lens that must be applied:

“We’ve always got to keep one eye on the fact that clients at this time will typically be considered vulnerable.”

4. Understanding Probate Loans

Steve Gauke provided a clear overview of how probate lending works in practice.

Provira provides two types of funding:

Estate Advance

A loan to executors, most commonly used to pay Inheritance Tax.

Funds can also be used for estate-related expenses such as property renovation or professional fees.

Inheritance Advance

A facility allowing beneficiaries to access part of their inheritance before estate distribution.

Key structural features include:

• Underwriting based primarily on estate assets and liabilities
• No monthly repayments
• Repayment from estate funds once available
• Direct repayment via the acting solicitor

As discussed during the session, probate lending is not always the lowest-cost option.

However, it can offer speed and certainty at a time when families are under pressure.

Steve Gauke summarised the principle simply:

“It’s their money – we simply allow them to access it earlier.”

5. Collaboration between legal and financial advisers

A consistent thread throughout the discussion was the importance of adviser collaboration.

Paul Radcliffe made a wider observation about national preparedness:

“Every single person will experience death in their family. Yet we barely talk about it.”

The panel encouraged:

• Regular will reviews
• Earlier involvement of next-generation beneficiaries
• Cross-referrals between IFAs, solicitors and probate specialists
• Greater focus on what the family journey looks like after death – not just at the planning stage

George Davey described the adviser’s role in this context:

“Being the conductor of those various relationships is often the best way to add value.”

Key takeaways for professional partners

• The pension changes and residence-based IHT rules require urgent review conversations with clients.
• Frozen thresholds will quietly bring more estates into scope.
• Probate delays remain a lived reality, even where official processing times improve.
• Liquidity planning is now central to estate conversations.
• Clients should be presented with a full suite of options – including HMRC arrangements and probate lending – with clear, balanced explanations.
• Collaboration across legal and financial disciplines improves client experience and reduces friction.

If you would like to discuss how an Estate Advance or Inheritance Advance may support your clients, the Provira partnerships team would be pleased to talk through specific cases.