Chris advised the clients to put a portion of their £10 million inheritance from their late mother into Trust to potentially reduce the Inheritance Tax liability and ring-fence the assets.
A high net worth client who had already given substantial lifetime gifts to the children of their first marriage was unsure whether they wanted their children to receive more inheritance under their
High net worth clients worth over £60 million were given peace of mind from the full service Thomson Snell & Passmore LLP offer.
We represented a client who had prepared a homemade mirror will with his partner, i.e. they left everything to the survivor when the first partner passed away. They had a long period of cohabiting but never married. However, the female was diagnosed with terminal cancer and the couple, who were in their later life, decided to marry to enjoy the end of their lives as husband and wife. What they were not aware of was the fact that marriage revokes a will. Had the wills been drafted by a solicitor or will-writer, they would have been advised of this and could have then made new mirror wills upon their marriage.
We acted for a lady whose partner died following a short illness. They owned a property together and had been in a relationship spanning 20 years. The couple had never married and always believed that their estates would pass to each other regardless. However, the concept of “common law marriage” is a myth.