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Inheritance planning: start with values, not just money
Inheritance planning is often treated as a tax exercise, but that’s only part of the picture.
David Macdonald of ethical financial planners Path Financial says inheritance tax can take a significant bite, and there are ways to reduce it. But focusing only on tax risks missing the bigger question of 'what is your money actually for'?
Starting with your values changes everything. What does wealth mean to you - is it security, freedom, impact? Do you want future investments to reflect those beliefs? And are those views shared across your family?
History shows how much this matters. The Cadbury family built a lasting legacy grounded in purpose, while the Gucci family’s wealth became a source of conflict without clear direction.
One simple step is to write your values down - a short guide to how money should be used and decisions made. It can help future generations see wealth not as a windfall, but as something to steward.
Inheritance planning isn’t just about money, it's about meaning and the legacy you choose to leave behind.
Good With Money is now on Substack! Follow us for regular ethical money guidance - helping you bank, save and invest in line with your values.
What your £50 could really do this tax year
The Easter reset might be over, but the new tax year is a good moment to think differently about your money.
Season 2 of Smug Money has just launched, kicking off with Ray Coyle of Energise Africa – and a simple idea, that your investments don’t just generate returns, they shape real lives.
What this looks like is children able to study after dark, riders increasing incomes by switching to electric bikes, and communities moving away from kerosene.
🎧 Listen to Smug Money featuring Ray Coyle
Through Energise Africa, you can invest from £50, with many projects offering fixed returns of around six to eight per cent. They can also sit inside an IFISA - offering tax efficiency alongside impact.
Used well, IFISAs can complement your wider savings and investments by doing something they often can’t - directly connecting your money to real-world change.
Listen to the episode to see what that means in practice.
And if you want to go further, download our Good Guide to Investing for Impact with IFISAs, sponsored by Ethex and Triodos Crowdfunding.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more.
Looking for better homes for your money? Meet our Good Eggs
Most of us want our money to do more than simply grow. But knowing where to start, and who to trust, isn’t always straightforward.
That’s where the Good Egg mark comes in. It’s our independent seal of approval for financial providers that meet high standards for people, planet and customers – helping cut through greenwashing and marketing spin.
To earn it, organisations are assessed on what they finance and invest in, as well as how they treat customers, staff and communities.
Companies that have earned the mark include business bank Unity Trust, online pensions provider PensionBee, sustainable bank Triodos, Ecology Building Society, clean energy investment firm Thrive Renewables, and ethical financial advisers EQ Investors, Path Financial and Switchfoot Wealth.
Curious what it takes to be a Good Egg - or whether your company could join them? Find out more here.
Featured guide:
The Good Guide to Investing for Impact with IFISAs
If your ISA feels like it lives in the background – growing (hopefully), but a bit disconnected from the real world – you’re not alone.
But there’s another way to think about it.
Innovative Finance ISAs (IFISAs) let you put your money directly into projects you can actually point to – from clean energy and social housing to healthcare and community initiatives – while still aiming for a return.
In our new guide, The Good Guide to Investing for Impact with IFISAs, created with Ethex and Triodos Crowdfunding, we explain how they work, what your money can fund, and how to decide if they’re right for you.
IFISAs aren’t like cash savings - your capital is at risk, returns aren’t guaranteed, and your money may be tied up for several years. But used thoughtfully, they can play a valuable role for people who want their money to work harder in more ways than one.
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