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  • Overview

    The family business was the main asset of the estate. As is sometimes common with family businesses, the operation was to be taken over by some, but not all, of the owners’ children and they required advice on making the transfer as seamless as possible to continue operations and reduce tax exposure.

    Through planning, we were able to take steps to protect the business for lifetime, as well as upon death of each owner. Lasting Powers of Attorney were tailored to the specific needs of the family business so that the relevant children could step in and continue trading where a parent lost capacity or was unable to make a decision.

    Similarly, planning within the wills also gave the opportunity to ring-fence the business assets to attract the maximum reliefs and exemptions for the family estate, retaining as much value as possible. The family were also able to provide for each of their children, depending on whether or not they became involved in the continuation of the family trade, compensating each accordingly.

    Our dedicated team of tax planning specialists are able to provide advice tailored to each family setup, and will consider commercial needs alongside the wider family resources and needs to provide a sensible, practical structure. 

  • Related Services

    Wills & estate planning

    A will is an essential part of your personal financial planning.  

    Lasting Powers of Attorney (LPA)

    Lasting Powers of Attorney offer security and peace of mind for you and your family.

    Tax advice

    The tax system is increasingly complex but we can advise on most issues facing individuals.

    Wills & estate planning for business owners

    Writing your will is an essential part of your personal estate and financial planning, however it also has a crucial impact on your business.

Newsletter sign up

I would like to receive newsletters, event invitations and publications from Thomson Snell & Passmore by email on the following topics (tick all those that apply) and consent for my data to be processed for this purpose.

We respect your privacy and want news to be relevant. To either, click here or update your preferences by emailing us at info@ts-p.co.uk. Your personal data shall be treated in accordance with our & .

Get In Touch

By submitting an enquiry through 'get in touch' your data will only be used to contact you regarding your enquiry. If you would like to receive newsletters from Thomson Snell & Passmore please use the separate form below.

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Jargon Buster