Wills, Trusts & Estates · Landlords & Investment Portfolios
Part of our wider Wills, Trusts & Estates services
Wills & Estate Planning for Landlords
If you own investment property, your estate is more complex than most. Without proper planning, a portfolio built over decades can be significantly eroded by inheritance tax — or pass to the wrong people entirely.
We advise landlords on wills, trust structures, IHT planning, and how to pass a rental portfolio to the next generation in the most tax-efficient way possible. Chester-based, acting across Cheshire, North Wales and England and Wales.
No obligation — talk through your options first. Costs explained clearly.
Who this is for
This page is for landlords who have built up a portfolio of investment or buy-to-let properties and want to ensure those assets are protected, passed on efficiently, and do not create an avoidable inheritance tax liability for their family.
Buy-to-let landlords
You own one or more residential investment properties and want to ensure they pass to the right people without triggering an avoidable 40% IHT charge on the value above your nil rate band.
HMO and portfolio landlords
You have a larger portfolio — HMOs, multiple properties, or a mix of residential and commercial — and need a will and estate plan that reflects the complexity of your assets.
Landlords with significant equity
Your properties have appreciated substantially. The equity in your portfolio may push your estate well above the IHT threshold — and without planning, 40% of that excess goes to HMRC.
Landlords with family succession plans
You want to pass your portfolio to children or grandchildren — or to a co-investor — and need to structure your will and any trust arrangements to make that transition as smooth and tax-efficient as possible.
The financial risk of doing nothing
Buy-to-let property does not qualify for Business Property Relief. If your estate exceeds the nil rate band (£325,000 per person, or up to £1m for a married couple passing to children), HMRC will charge 40% on the excess. On a portfolio worth £800,000 above the threshold, that is £320,000 in inheritance tax — payable before your beneficiaries can access the estate. Proper planning can significantly reduce or eliminate this liability.
What we advise on
IHT exposure assessment
We review the value of your portfolio, existing allowances, and current estate structure to calculate your approximate IHT exposure — and identify where planning can make the biggest difference.
Will drafting for landlords
We draft a will that reflects the complexity of your portfolio — including specific property gifts, tenancy considerations, and provisions for co-owners or business partners.
Trust structures
We advise on whether a trust — discretionary, life interest, or otherwise — is appropriate for your portfolio, and on the tax implications of each structure.
Lifetime gifting and portfolio restructuring
We advise on lifetime gifting strategies, transferring properties to family members, and whether restructuring your portfolio (for example, into a limited company) has estate planning implications.
Lasting Power of Attorney
If you lose capacity, who manages your tenancies, collects rent, and deals with maintenance? An LPA for property and financial affairs is essential for any landlord.
2025/26 — IHT thresholds and what changed for landlords
The IHT nil rate band remains frozen at £325,000 until at least 5 April 2031. With property values continuing to rise, more landlord estates will be drawn into the IHT net. The residence nil rate band (up to £175,000) applies only to a main residence passed to direct descendants — it does not apply to investment properties.
Agricultural Property Relief and Business Property Relief were also reformed — but these changes primarily affect farming estates and trading businesses, not residential investment portfolios. If you own a mix of assets, we advise on the interaction between these reliefs and your overall estate plan.
Do you hold your portfolio through a limited company?
Many landlords have transferred their portfolios into a limited company structure for income tax efficiency. But this creates a distinct set of estate planning challenges — including the IHT treatment of company shares, whether Business Property Relief applies, and the impact of pre-emption rights in the articles of association on passing shares to beneficiaries.
If you are the controlling shareholder and director, you may be able to amend the articles during your lifetime to remove restrictions on share transfers — but this must be done before death. We have a dedicated guide covering all of these issues in full.
Properties held in a company — full guideThe team advising landlords
Darren Steele
Senior Private Client Executive · STEP Member
Inheritance Tax & Estate PlanningDarren has worked in the legal sector since 1998 and has been a STEP member since 2011. He specialises in wills, trusts, lasting powers of attorney and probate — with particular expertise in inheritance tax planning and complex estate structuring for clients with significant property portfolios.
Laura Kirton
Wills & Probate Solicitor · 10 Years Qualified
Property Estate PlanningLaura is a qualified solicitor with ten years' post-qualification experience, specialising in wills, probate, and lasting powers of attorney. She regularly advises landlords on how to structure their estates to protect rental portfolios and minimise inheritance tax exposure.
David Stahler
Wills, Trusts & Estates Executive
Estate PlanningDavid is our first point of contact for landlords enquiring about estate planning. He brings a warm, personable approach to what can be a sensitive subject — and clients consistently remark on how at ease he makes them feel.
Nikolina Vukovic
Legal Executive — Wills, Trusts & Estates
Wills & Estate AdministrationNikolina specialises in probate, wills, trusts and estate administration. She supports landlord clients through estate administration involving multiple properties — from straightforward transfers to complex portfolios with inheritance tax and tenancy considerations.
Common questions from landlords
Is buy-to-let property subject to inheritance tax?
Yes. Buy-to-let and investment properties form part of your estate for inheritance tax purposes and are taxed at 40% on the value above the nil rate band. Unlike a trading business, residential investment property does not usually qualify for Business Property Relief — making IHT planning particularly important for landlords.
Can I put my rental properties in a trust to avoid inheritance tax?
Transferring properties into a trust can form part of an IHT planning strategy, but it is not straightforward. There are immediate tax charges on transfers above the nil rate band, ongoing trust tax obligations, and potential capital gains tax implications. We advise on whether a trust structure is appropriate for your portfolio and circumstances.
What happens to my rental portfolio when I die without a will?
Without a will, your estate — including your rental portfolio — passes under the intestacy rules, which may not reflect your wishes. Properties may pass to unintended beneficiaries, tenancies may be disrupted, and the estate administration can be significantly more complex and costly. A properly drafted will is essential for any landlord with investment property.
Does owning property through a limited company change my estate planning?
Yes. If you hold properties through a limited company, your estate consists of shares in that company rather than the properties directly. This changes the IHT analysis, the succession planning options, and the way your will should be drafted. Pre-emption rights in the articles of association may also restrict how shares can be transferred to beneficiaries. We advise on both personal and company-held portfolios — see our dedicated guide on properties held in a company structure.
Can pre-emption rights in my company's articles prevent my shares passing to my family?
They can cause significant delay and complication. Pre-emption rights require the personal representatives to offer the shares to the surviving shareholders before they can be transferred to the beneficiaries named in the will. If you are the controlling shareholder and director, you can amend the articles during your lifetime to remove or modify these provisions — but this must be done before death.
Related estate planning services
Inheritance Tax Planning
IHT mitigation strategies, lifetime gifting, and nil rate band planning.
Trusts
Discretionary, life interest and protective trust structures.
Business Owners
Estate planning for business owners — BPR, succession, and shareholder wills.
Properties in a Company
IHT on company shares, pre-emption rights, and passing shares to beneficiaries.
IHT Calculator
Estimate your inheritance tax exposure in under two minutes.
Care Fee Planning
Protecting your property portfolio from care home costs.
Wills
Professionally drafted wills for complex estates.
Protect your portfolio. Plan your estate.
Speak to a specialist about wills and inheritance tax planning for your investment property portfolio. Costs explained clearly before any work begins.
No obligation — talk through your options first. Chester, Cheshire & North Wales.
Request a free initial consultation
Tell us about your portfolio and we will explain your options — no obligation, costs clear from the outset.