The importance of regular reviews of estate planning structures

Effective estate planning is more than a one-time exercise for internationally mobile individuals and families. It must evolve with personal circumstances, tax legislation, and global mobility.

With the UK’s recent changes to the remittance basis for non-domiciled individuals (RNDs), now is the time to review existing structures and ensure they remain effective, compliant, and aligned with long-term objectives. In this article, Tom Strawbridge, Guernsey Client Services Director, explores why regular reviews are essential. 

A well-structured estate plan helps preserve and transfer wealth efficiently. However, without regular reviews, estate planning structures can become inefficient, outdated, or even problematic. Three key reasons make periodic reviews essential:

Legislative and tax changes 

Tax regimes worldwide are constantly evolving, and recent developments in the UK are a prime example. Recent changes to the long-standing UK RND regime from April 2025 have significant implications for those falling within that category. For current UK RNDs staying or considering a move away from the UK, their estate planning structure may need to be reconfigured to reflect their new tax position. Even now just a few months away from the proposed changes, the Chancellor has indicated there may be further changes and concessions so the need to have a proactive and dynamic approach to structuring is crucial. 

This issue extends beyond the UK of course. Many jurisdictions are tightening their rules on residency and tax liabilities. A structure that was tax-efficient a few years ago may now be ineffective - or worse, may carry unintended consequences.

Changes in family and financial circumstances 

Wealth is rarely static. Investments shift, family needs change, and international relocation is increasingly common. Marriage, divorce, death, growing or blending the family dynamics with children, stepchildren, grandchildren, or a significant change in asset composition should all prompt a review of an estate planning structure. For globally mobile families, multi-jurisdictional considerations are paramount. Estate planning must consider tax efficiency, asset protection, and succession planning across multiple legal systems. Failing to update the structure in line with changing circumstances can lead to inefficiencies, tax leakage, and potential disputes. 

Risk management and compliance 

Regulatory responsibility and reporting of wealth structuring has also increased significantly, particularly in relation to offshore Trust or other similar structures. Transparency requirements, economic substance rules, and international reporting obligations (such as CRS and FATCA) mean that estate planning structures must be carefully managed to remain compliant. 

Regular reviews help confirm that structures remain compliant with evolving regulations while continuing to meet their intended objectives. They also mitigate reputational and compliance risks that may arise from outdated arrangements that no longer meet with today’s standards. 

Key areas to review 

A thorough estate planning review should cover: 

• Trusts and foundations – Are they still fit for purpose given the family’s needs and the tax environments in which they operate? 

• Tax residency and domicile – Have changes to the personal or family situation impacted their tax position? 

• Investment holding structures – Are they still the most tax-efficient way to hold the client’s assets? 

• Succession planning – Do the wills, letter of wishes and estate plans align with a family’s needs, wishes and legal requirements across multiple jurisdictions? 

• Regulatory and compliance status – Do the structures meet current and emerging global regulatory requirements?

Taking a proactive approach

Estate planning should be proactive rather than reactive. Partnering with experienced advisers who understand the individual’s personal and financial circumstances, as well as the evolving global private wealth landscape, ensures that estate structures remain effective. 

If the estate planning structure has not been reviewed recently, now is the time. Ensuring the affairs are structured appropriately provides long-term benefits for both the individual and family. 

At Praxis, we work with international families, private clients, and their advisers to implement and maintain estate planning structures. Our global perspective, combined with deep local expertise, allows us to provide tailored solutions that adapt to changing circumstances. 

Find out more about our Private Wealth services or contact Tom.

PraxisIFM Trust Limited is regulated by the Guernsey Financial Services Commission and licensed as a fiduciary and corporate services company.  

This article is for information purposes only and is intended as general commentary, it should not be relied on in any way. Praxis does not give tax advice, which should in all cases be sought from appropriately qualified professional advisers.