Most people in the UK see financial advice and legal planning as two separate boxes to tick. They speak to an adviser about pensions, life cover, or investment strategies — and they speak to a solicitor, sometimes years later, to draft or update a Will.

But in reality, these two worlds are part of the same plan. The best financial advice can only deliver what you want for your family if the legal framework behind it works too. Without that connection, even the most careful plan can unravel at the worst possible moment.

Two parts of the same promise

When you work with a financial adviser, you’re building a safety net. Life insurance protects against loss of income; pensions build long-term security; savings and investments grow wealth over time.

But what happens if the instructions for how those assets should be used — who should get them, when, and under what conditions — are missing or out of date?

A Will, trusts, and clear legal paperwork are what make the difference between a well-structured plan that works automatically and one that ties your family up in avoidable paperwork, cost and conflict.

Common gaps when legal and financial advice don’t connect

1. Life insurance not in trust
A policy payout that isn’t held in trust usually enters your estate. That can trigger inheritance tax that could have been avoided, and the money may be delayed in probate when your family needs it most.

2. Pensions without up-to-date nominations
Many pension schemes are written under discretionary trust — meaning trustees have the final say. If you haven’t updated your nomination form, trustees may need to investigate your family situation, causing delays and sometimes disputes.

3. A Will that doesn’t match your financial structure
Even people with a Will often forget to update it when they remarry, have more children, or buy new property. This can clash with how assets are owned or with financial products you set up years ago.

4. No Lasting Power of Attorney (LPA)
A well-structured plan includes protecting decision-making if you lose capacity during your lifetime. Without an LPA, your family could face a lengthy and expensive court process just to manage your accounts or sell assets on your behalf.

A real-world example

Adam and Priya arranged good life cover to pay off the mortgage and leave extra security for their two young children. They worked with a financial adviser for years but never spoke to a solicitor about their Will. When Adam died suddenly, the payout went into his estate. It took over a year to access, the extra money pushed the estate above the inheritance tax threshold, and their old Wills didn’t reflect Priya’s wish for her sister to be the children’s guardian.

All this could have been avoided with a trust for the policy, an updated Will, and a clear guardianship clause.

What an integrated plan should cover

An effective plan protects your wealth in life and passes it on smoothly after death. That usually means:

• A clear, valid Will that matches your family circumstances and explains your wishes clearly.
  
  
• Trusts where appropriate, to protect large sums for children or vulnerable relatives.
  
  
• Pension nominations kept up to date, so trustees have clear evidence of your intentions.
  
  
• Insurance policies written in trust when it makes sense, to avoid unnecessary tax and delays.
  
  
• Lasting Powers of Attorney, to cover financial and health decisions if you can’t make them yourself.
  
  

No single adviser does all of this alone — but the best outcomes come when your financial and legal professionals work in tandem, with you at the centre.

Why this matters more today

Modern families rarely look like the old legal default. Second marriages, stepchildren, cohabiting couples — these realities mean it’s riskier than ever to assume “the law will sort it out”.

A plan that joins up your adviser’s work and your legal documents ensures the money you protect and grow in life really delivers the safety and security you want after you’re gone.

What to check now

Ask yourself:

• Do I have a Will that fits my current life, family and finances?
  
  
• Are my pension nominations and life insurance trusts up to date?
  
  
• Is there someone legally authorised to manage my affairs if I can’t?
  
  

If any answer is no, it’s worth reviewing things now — not later.

Good financial planning sets up the safety net. Good legal planning makes sure that net holds — exactly when your family needs it most.