Things can get a complicated if there is inheritance tax to pay, so it’s a good idea to do an annual review of your financial position. Each year, at about the same time, add up the values of all your bank accounts, investments, life assurance policies, and property (including your house and car). Don’t forget the less obvious things like any death in service benefit that your employer may provide. Then subtract any liabilities such as outstanding mortgage, loans and credit card balances. The remaining amount is the gross value of your assets at that point in time. Your executor will need to confirm the correct figures at the date of death, but the latest annual review figure will hopefully give them a good idea whether inheritance tax is likely to be due or not. Put an updated copy of your annual review in the Die Tidy file each year, or note saying where it can be found.
Plan now. It's never too early. Make sure it's not too late.