Overview
The Legacy screen in Voyant has been updated to offer an enhanced view of legacy projections and comparisons. This update focuses on creating new insights, improving readability, simplifying navigation and creating a more intuitive flow to help with Inheritance Tax conversations.
The new design brings key outcomes front and center, while still allowing you to drill into detail when needed.
Use alongside the new Wealth Flow screen which can support conversations around gifting throughout the plan.
What’s New at a Glance
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Pre-Tax vs. Post-Tax Clarity: Clear separation between pre-tax wealth, the Inheritance Tax liability and post-Inheritance Tax wealth projections.
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The Total Wealth Transfer value is now shown on the main summary screen. This is the projected amount that will pass to beneficiaries after the Inheritance Tax is paid.
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A Lifetime Gifting tile: Sums up gifts made within the plan and on death, offering a clearer view of total lifetime gifting compared to the old Legacy screen.
- Add in-plan gifts as Gifting Goals or Gifting Expenses to see included in the Lifetime Gifting tile.
- Add in-plan gifts as Gifting Goals or Gifting Expenses to see included in the Lifetime Gifting tile.
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A Charitable Gifting tile: Sums up gifts made to charity within the plan and on death.
- Select Recipient Type: Charity in a Gifting Goal to see total Gifts to Charity made in the plan.
- Set up an Estate plan to allocate money to charity on death.
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Detailed View: The Estate Distribution and Inheritance Tax Details tab has been renamed to Taxes, featuring a clearer, step-by-step flow.
- Smarter Scenario Comparisons: Comparing different scenarios is now smoother—the system will no longer default to comparing a plan against itself with the Details on.
Legacy Summary
The Legacy Summary is now the focal point of the screen. It provides a high-level snapshot of wealth prior to paying Inheritance Tax, the Inheritance Tax Liability and how much ultimately transfers to beneficiaries and charities after paying this tax.
Click on Show Details to see more information. Click on the Taxes tab to see the full breakdown.
Total Wealth (Pre-Tax)
This section reflects the client’s total wealth before any estate taxes are applied.
Collapsed View
- Displays the aggregate value of all assets and liabilities.
Detailed View
Breaks total wealth into clear line items, each shown with pre-tax values and categorised as either Personal or Outside of Estate.
- Savings & Investments
- Property
- Insurance
- Outside of Estate - Trusts
Estimated Inheritance Tax Liability
This section summarises the estimated inheritance tax liability:
For full details click on the Taxes section.
Total Wealth Transfer (Post-Tax)
This section shows how much wealth is ultimately transferred after estate taxes and planning strategies are applied.
Summary Flowchart
A new Legacy Flowchart has been introduced to help visualise where wealth ultimately goes.
The flowchart emphasises the destination of distributions from the estate at each mortality event (first and second).
This makes it easier to explain:
- How estate assets flow to beneficiaries
- How insurance in trust bypasses the estate
- The timing of transfers at each mortality event
Because the beneficiary selection is not available for 'Other Trusts', these are not currently shown in the flowcharts, but are accounted for in the Summary tiles above.
Beneficiaries
The Beneficiaries section summarises gifts made to beneficiaries over the client’s lifetime and at mortality. Values are broken out by beneficiary and by category, helping show wealth transfers not just at the end of the plan, but during the plan as well.
If you have added Gifting Goals into the plan these will be included in the Lifetime Gifting tile and in the Beneficiaries section above.
Gifting Goals above the £3,000 annual exempt amount are treated as Potentially Exempt Transfers.
Taxes
The Taxes screen shows the Estate Distribution and Inheritance Tax Calculations details, organised by mortality event.
Each table is shown separately for first and second mortality, with clear sections supporting the inheritance tax projections:
Valuation Summary
The Valuation Summary table provides:
- A detailed breakdown of each asset and liability item
- See differences between Total Value and Estate Value. Estate Value shows the proportion inside of the estate.