INHERITANCE AND SUCCESSION PLANNING

Having an up-to-date will in place is essential if you want to have the final say on who benefits from your estate. But how do you make such an important decision? What you need is clarity and guidance on what happens when your estate is passed on, so you can find the most efficient way to maximise its value. Although the terms of your will are your choice, you can use our advice to ensure your beneficiaries are cared for in the way you intend.


Key Contacts

Michael Young

Director 0122 534 0080

Mike Westbrook

Partner 0122 534 0058

PLANNING FOR THE FUTURE

When you are arranging your will, it can be difficult to think ahead. You need to make decisions on who your estate provides for, which can require tax planning. If you or your beneficiaries live abroad, you may also be faced with other complexities. What’s more, it is important to consider how you could afford any care you require later in life or make plans for a power of attorney.

Part of arranging your will is planning for the unforeseen, which is why expert advice is key. By taking the time to understand your family dynamics and financial situation, we can help you create a flexible will that accommodates your intentions within the parameters of regulations and tax obligations. We will work closely with your financial adviser and accountant, so you can be confident that we will take the full scope of your situation into consideration. Our forward-thinking experts will also help you to think pragmatically about your own future, ensuring you can provide for yourself and your healthcare needs.

Whatever your wishes, our legal and tax guidance will give you confidence that you have managed your affairs efficiently and with clear foresight.

Our expertise in this area encompasses:

Inheritance

Succession planning

  • advising on the appropriate will to reflect clients’ personal wishes and the needs of individual beneficiaries, as well as the possibility of claims under the Inheritance (Provision for Family and Dependents) Act 1975
  • preparing partnership and shareholder agreements for family businesses
  • advising on appropriate business/shareholder/partnership structures to help introduce young family members into a family business
  • addressing the liability to capital gains tax/inheritance tax on the sale of a business or its passing on to the next generation
  • addressing issues of untimely death of a key member of a family business


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