Successful business owners plan for succession of their company to their children through lifetime planning together with their wills.
Tax planning advice was sought by the owners of a large family estate. They wanted to ensure that wealth could be maximised for future generations, but wished to remain living on the family estate, accessing the facilities during their lifetime. We were able to identify the current and future needs of the family and make lifetime transfers to the children while protecting the parents’ rights and occupation of the land.
Chris advised the family of a man who died leaving an estate of £7.5 million.
Amy has acted for this couple since she was a trainee, with the matter transferring across with her from her previous firm.
When thinking about Lasting Powers of Attorney (LPAs) individuals often believe that LPAs are only for later life and not something that can be helpful to them and their family earlier in life. But there are times when it can be helpful for younger people to also have LPAs in place.
We had to carefully consider what the deceased’s worldwide assets comprised of and in particular what would pass under the intestacy rules of England and Wales an advise accordingly.
We advised an adult child of the deceased who had been inadvertently excluded from her father’s will.
Chris advised a film director in a cross-border matter, which is valued at £6 million.
Nicola advised two clients, following the sale of their business, in relation to efficiently planning their estates, in a matter valued at £25 million.
Stuart’s client inherited his wife’s share of some farmland, which had huge developmental potential.
Sarah advised a client with a complex family structure, in a matter valued at £1.5 million.
Clare provided estate planning advice and prepared new Wills for clients, in a matter valued at £12 million.
Siblings whose families benefitted from a trust wanted to take it in different directions. We provided a thorough review and analysis of the available options which enabled to beneficiaries to agree a fair and tax efficient split.
Ultra high net worth clients have complicated affairs. We are able to provide peace of mind through a complete advice service.
A long-term client has recently entered into a second marriage and they wanted the interests of all the client’s children protected in a tax efficient way.
During the administration of an estate, which included shares in a property investment company, our advice resulted in a capital gains tax saving of over £250,000 for the beneficiaries.
We advised a wealthy client on changes to his Will that could save several million pounds in inheritance tax.
Following a significant increase in the value of a property during the administration of an estate, we were able to achieve a substantial capital gains tax saving.
Our clients were faced with a potential inheritance tax liability of over £1.2million but, following our intervention, HMRC accepted that no inheritance tax was due.
We advised the executors of a complex estate containing assets worth over £25million and we were able to reduce the inheritance tax bill by over £500,000.
This case study demonstrates the expertise of our Wills, Trusts & Tax Planning team who have recently advised a client on deeds of variation, inheritance tax and discretionary trusts.
This case study demonstrates the expertise of our Wills, Trusts & Tax Planning team who have recently settled a farming case, saving a potential IHT liability of over £500,000.