02/10/2026
October Newsletter
This Month: Quirky Finds In Estates - Legalities; Estate Planning - Reasons To Start Early; Like A S*x Machine.
Quirky Finds In Estates - Legalities
Sorting through an Estate often means coming across some unusual treasures. Maybe it’s a little ivory carving tucked in a cabinet, a rhino horn cup collected decades ago, or a big set of antlers hanging over the fireplace. The big questions are: can these be sold? and do they need declaring?
The rules aren’t always straightforward – and getting it wrong can cause real problems. Here’s a quick guide:
Ivory – The Ivory Act 2018
Ivory is the most heavily restricted material. Since the Ivory Act (which took full effect in 2022), trading in ivory is almost completely banned in the UK – no matter how old the piece is.
There are only a few exceptions, such as:
Pre-1918 portrait miniatures under 320cm²
Pre-1975 musical instruments with less than 10% ivory
Items of outstanding cultural or historic importance (with a certificate)
Pre-1947 items with less than 10% ivory (the “de minimis” rule)
Even if something qualifies, paperwork is essential before selling. And remember, “ivory” now covers not just elephant tusks, but also species like hippo, walrus and orca.
Rhino Horn – Strictly Controlled
Rhino horn is even more tightly regulated under international CITES rules (still enforced in the UK after Brexit).
Selling raw rhino horn is always illegal
Worked rhino horn can only be sold if it was clearly made before 1947
Certificates from the Animal and Plant Health Agency (APHA) are mandatory
These items are rare but do show up in older Estates, often as 19th-century carvings or libation cups. If you come across one, never attempt a sale without expert advice.
Antlers – Usually Fine
Antlers are much simpler:
Naturally shed antlers (like those mounted on plaques) can be freely sold
Worked antler items (furniture details, knife handles, etc.) are generally unrestricted
Only antlers from endangered or unusual deer species might fall under extra rules – but that’s rare.
Bone – Generally Low-Risk
Bone items (chess sets, boxes, scrimshaw) usually don’t face restrictions in the UK. The main exceptions are bone from endangered species like whales. The bigger risk is misidentification – sometimes ivory is mistaken for bone, or the other way around.
Why It Matters
For executors, the trap is assuming these objects are just “normal contents.” In reality, ivory, rhino horn, antler and bone all follow very different rules. Getting it wrong could mean fines, seizures or probate delays.
Best approach? Treat unusual items with care. Check if exemptions apply, get paperwork in order, and when in doubt – call in a professional before trying to sell.
Estate Planning - Reasons To Start Early
More and more families are finding themselves caught by inheritance tax (IHT), and the net is only getting wider. With the changes announced by ex-Chancellor Rachel Reeves set to kick in over the next few years, even more people could be affected.
From April 2027, most pension pots will count as part of an Estate for IHT purposes. Add to that rising house prices and asset inflation, and many people are being nudged over the £325,000 tax-free threshold (with an additional £175,000 allowance for passing on a main home to direct descendants aka RNRB). Even the RNRB corrodes away the larger your Estate is. If your Estate is over £2.7m for a couple or £2.35m for a single person, you lose all your RNRB allowance.
So, what can you do? Everyone’s situation is different, but here are some key points worth keeping in mind:
1. Start Early
Estate Planning works best when it’s not left to the last minute. Passing on wealth isn’t just about saving tax — it’s also about making sure things are structured in a way that works for your family.
Anything left to a spouse or civil partner is tax-free, and couples can combine their allowances to pass on up to £1 million tax-free.
Lifetime gifts can escape IHT if you live seven years after making them. Gifts within three to seven years may still be taxed, but at a reduced rate - known as taper relief.
Giving sooner rather than later increases your chances of clearing that seven-year rule — but don’t give away more than you can afford.
2. Think Beyond Gifting
Good planning isn’t just about giving money away. A well-thought-out Will, reviewed regularly, is a cornerstone of keeping things efficient and flexible. Estate Planning isn’t a one-off — it should evolve with changes in family life, finances, and tax rules.
3. Use Trusts
Trusts and Family Investment Companies (FICs) can be useful tools to manage and protect assets. They’re particularly helpful if you want to retain some control and pass things on safely & securely.
4. Consider a Deed of Variation
This legal document lets beneficiaries change how an inheritance is distributed — for example, skipping a generation or moving assets into a Trust. It has to be done within two years of the death, and only affects the share of the person who agrees to it.
5. Look at Life Insurance
Policies designed to cover IHT bills , aka Whole of Life Policies, can be a lifeline for families, especially as IHT has to be paid within six months of death. Writing the policy into Trust keeps it outside of your Estate, ensuring the full payout goes to your loved ones.
6. Gifting - Keep Records
Record-keeping matters. HMRC may challenge gifts if there’s no clear paper trail. Keeping a log of amounts, dates, recipients, and whether the money came from income or capital could save your executors a lot of stress later on.
7. Watch Out for Common Pitfalls
“Common-law” spouses don’t get IHT benefits — only legal marriages or civil partnerships count.
Giving away too much too soon can leave you short later in life.
Gifts, if not in Trust, can come with risks, such as if the recipient goes through a divorce.
You can’t give something away but still keep using it — HMRC will treat it as still yours.
The Bottom Line
Inheritance tax is complicated, and with the rules changing, more people than ever will need to think about it. The right strategy depends on your personal circumstances, and while there are plenty of ways to reduce the bill, each option has trade-offs. Starting early, staying flexible, and getting professional advice are usually the best ways to make sure your wealth goes where you want it to.
Estate Planning isn't just about IHT, it's about passing on your assets safely & securely, and keeping them within your bloodline. Think of it as an insurance policy. Anyone with family & assets should have an Estate Plan.
✅ Phoenix Estate Planning - Simple & Affordable Estate Planning
Like A S*x Machine!
When James Brown passed away in 2006 he left behind an Estate worth $100 million.
His Will stated that his Estate was to be separated into two Trusts, one for the education of his grandchildren, and the second for the disadvantaged youths of South Carolina and Georgia.
Brown clearly stated in his Will that he hadn’t mistakenly left anyone out of the Will and left no provision for his wife or children.
His wife and children contested the Will in 2009 and were awarded $50 million.
That's it for this month. Y'all have a safe trick 'n' treating at the back end of this month and we'll see you next month 🎃
