Private Client are words often used by Lawyers although increasingly clients mean the need for the preparation of Wills, Lasting Powers of Attorney and in the very end Probate and Trusts.
Though just as the world moves on so do client’s needs and aspirations. The importance of Society of Trust Estates Practitioners have recognised this over the last few years. Like them we have extended our services based on our client’s needs.
We now provide very detailed advice and experience in much more than making a Will. That advice includes:
(a) as many clients move from main stream pensions advisors towards Self Invested Pension Schemes we are happy to assist in putting property or other assets in or taking out, liaising with SIP providers along the way
(b) equally we have been predominant in our area in the preparation of Family Investment Trusts or Family Investment Company’s for those wishing to take the law in to their own hands and deal with their own assets for retirement and family succession
(c) more of us now seek to hold investments overseas including perhaps that holiday home or retirement home. Whilst we do not deal with the conveyancing in areas outside the United Kingdom we do have contacts outside the UK for this purpose and are happy to give tax and inheritance advice for land and property held outside the UK
(d) many families wishing to plan succession can also as part of our Private Client advice assist in the creation of partnerships with planning in mind, shareholders agreements leaving shares to blood relatives or otherwise
(e) the bank of mum and dad raises for those who can afford to assist their children or grandchildren are special issues which through our skills and experience we are happy to assist with
Our team is headed by Peter Norris a Director and Solicitor with decades of experience in estate and succession planning. Regarded by many clients as a family friend and advisor. Peter is a Trust Estate Practitioner having completed his full qualifications and a full member of the Society of Trust and Estate Practitioners. We can also assist where needed with the Court of Protection and as Guardian. Through him our team can help with all those matters above the starting points often being:
- The creation and administration of Lifetime Trusts (including the establishment of Trusts to receive the death benefits of life policies and settlements to receive the nomination of pension benefits).
- Lasting Powers of Attorney for Property and Financial Affairs and Health and Welfare decisions.
- The management of the property and financial affairs of a mentally incapable person under a Lasting or Enduring Power of Attorney.
- Court of Protection applications where a person has lost mental capacity and has no Enduring or Lasting Power of Attorney in place.
- Protecting family assets against such risks as the impact of long term care charges, a divorcing spouse or a Trustee in Bankruptcy.
- Advanced Capital Gains Tax Planning solutions for individuals with assets subject to a large capital gain such as property or stocks and shares portfolios where:-
- The individual wishes to dispose of the asset and reduce or mitigate exposure to Capital Gains Tax; or
- The individual wishes to restructure their assets for other tax purposes but is unable to do so due to the gain; or
- The individual wishes to gift or otherwise deal with the asset for Inheritance Tax saving purposes but is unable to do so without triggering a charge to Capital Gains Tax.
- Inheritance Tax planning to avoid a charge on death to 40% Inheritance Tax on assets exceeding £325,000 for a single person or £650,000 for a married couple or civil partners.
- Probate and the administration of deceased persons’ estates including post death variations.
- Planning for clients using offshore structures and tax planning opportunities for both UK and overseas clients.
- We also offer a pre and post life trust review and compliance service