Family inheritance and succession planning is rarely a one-off task. It’s a set of decisions that needs to stand up to real life: marriages, divorces, blended families, births, business growth, ill health, later-life care needs, and changing rules. The aim is simple — clarity and protection for the people you care about — but the route to get there often isn’t.
That is exactly why STEP (the Society of Trust and Estate Practitioners) matters. STEP exists to inspire confidence in families planning their assets across generations, by setting and upholding professional standards, promoting education, and connecting practitioners who share knowledge and best practice.
This article explains what STEP is, why it is widely treated as a benchmark in trusts and estate planning, and what STEP membership should mean to you as a client.
What is STEP?
STEP is a global professional body for practitioners who help families plan for their futures — including lawyers, accountants, trustees and other professionals working in inheritance and succession planning. It has more than 22,000 members worldwide.
Crucially, STEP’s mission is not “marketing membership”. It is explicitly about professional standards, education, and confidence for families planning across generations.
Why STEP is seen as the benchmark in trusts and estate planning
“Foremost authority” isn’t a title you claim — it’s something you earn through standards, education and accountability. STEP’s influence comes from three practical things that directly affect families.
1) Professional standards and ethical expectations
STEP members are expected to follow a Code of Professional Conduct, which sets out the core professional and ethical standards a STEP member agrees to uphold.
STEP frames this around client trust: behaving professionally and ethically, complying with relevant regulation and legislation, and keeping skills up to date.
For clients, that matters because trust and estate work often involves:
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sensitive family conversations,
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high emotional stakes,
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complex assets (property, pensions, businesses),
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and decisions that can affect multiple generations.
When professional standards are clear, everyone is better protected.
2) Education and proven technical competence
Trusts and estates isn’t a “set and forget” topic. It sits at the intersection of family law, tax considerations, property, capacity, and practical administration. STEP’s focus on education and professional development is a major reason it is respected as a specialist body.
3) Continuing professional development (CPD)
STEP requires members to maintain a CPD record and provides a formal process for planning and recording professional development.
For clients, CPD isn’t bureaucracy — it’s reassurance that your adviser is staying current as best practice evolves.
“Advising families across generations” — what that looks like in practice
The phrase can sound abstract until you map it to real family life. Here are typical multi-generational situations where specialist standards and best practice make a tangible difference.
Blended families and second marriages
Families often want to provide for a spouse or partner, while also protecting the long-term interests of children from a previous relationship. Planning here is as much about clarity and fairness as it is about documents.
Supporting vulnerable beneficiaries
Some families need to protect assets for a child or relative who may be vulnerable due to health, capacity, or life circumstances — while still ensuring funds are used for their benefit.
Later-life planning and continuity
As people live longer, planning increasingly involves:
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keeping affairs manageable if health changes,
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putting the right people in place to act (properly and lawfully),
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and ensuring the family understands the plan before a crisis hits.
Family businesses and succession
Passing a business safely from one generation to the next often requires balancing the needs of:
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children involved in the business,
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children not involved,
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and the spouse/partner who may rely on its income.
Families with international links
Where assets or family members span jurisdictions, planning needs careful coordination — both to avoid mistakes and to keep the administrative burden manageable.
Across all of these, the real goal is the same: reduce uncertainty, reduce conflict, and protect outcomes over time.
Why Michaels & Company joined STEP
We have joined STEP because it aligns with the way we believe trust and estate planning should be delivered: with strong professional standards, a commitment to learning, and a focus on protecting families across generations. STEP’s stated mission — inspiring confidence for families planning assets across generations by upholding standards, promoting education and sharing best practice — is exactly the direction we want to be accountable to.
For clients, the point isn’t a badge. The point is what sits behind it:
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a clear professional framework,
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recognised expectations around ethics and conduct,
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and a culture of keeping technical competence up to date.
A sensible next step for families
If you are planning (or reviewing) your arrangements, start with the basics:
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What assets are in play (property, savings, pensions, business interests)?
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Who needs protection now, and who may need it later?
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What life changes are likely over the next 5–10 years?
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Who would make decisions if you couldn’t?
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When was your plan last reviewed after a major life event?
Planning across generations is about getting the structure right, then keeping it current as life evolves.