Lifetime or Will Trusts
Advising on the most appropriate trust vehicle, including trusts for the disabled, then creating and administering the trust.
Examples: Tax & Trusts
Estate planning and bespoke wills
Working alongside clients to understand their asset structure, including corporate and agricultural interests, and pass on those assets to loved ones in a tax efficient manner.
Settled Land Act Trust
Representing the trustees of a Settled Land Act trust created in 1959 to include consideration of whether potential beneficiaries born after that date were entitled to inherit.
Capital Gains Tax considerations and appropriation
Dealing with an estate where there was a large shareholding which had increased significantly since the date of death. Had the executor sold the shares there would have been a large capital gains tax liability but this was considerably reduced by giving advice in connection with appropriation.
Using the nil rate band
Advising clients in connection with wills which leave a nil rate band legacy to trustees on discretionary trusts.
Tax mitigation strategies
Advising the executors and beneficiaries of a large estate in connection with post-death tax mitigation strategies and protecting assets from long term care fees.
Creation of a trust for a vulnerable person
Advising in connection with the prospect of a disabled person’s trust for the benefit of a vulnerable beneficiary. Providing advice on the inheritance tax, capital gains tax and income tax implications for the trust, dealing with transfer of the assets into trust and the registration of the trust with HMRC.
Life interest trust and mutli-million pound assets
Advising trustees in connection with the administration of a life interest trust with multi-million pounds assets, including property, qualifying for agricultural property relief. Dealing with the preparation of annual Trust Tax Returns and Accounts and advising the trustees on all matters pertaining to the proper administration of the Trust including specific tax advice and advice on the powers and fiduciary duties of the trustees.
Tax planning to protect a family business
Advising a husband and wife who each owned substantial shareholdings in a family business, in connection with structuring their wills so as to maximise the benefit that might be achieved from business property relieve (BPR). Any business asset which qualifies for BPR will attract inheritance tax relief at 50% or 100% and is therefore a valuable relief for business owners, potentially enabling business assets to pass tax free to the next generation.
