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Long term financial security for a family could be adversely affected if the business interests, assets and investments are not structured in a tax efficient way. We can assist in minimising capital tax liabilities and structure affairs to the best advantage.

Families owning businesses have many issues to address, such as providing for children who need protection from taking an inheritance at too vulnerable an age, balancing the expectations of all the children against that of child who is (or will be) running the family business, dealing with the passing on of the family business to child(ren) during the parents’ lifetimes where the parents still need to take an income from that business. Our experience is that, with thoughtful considered advice giving knowledge to the parents, solutions can be found for all these types of situations. Detailed letters of wishes, for the surviving children and those in the role of advisers and trustees, can set out the parents’ thought process in structuring the assets and can provide comfort and guidance when the parent has passed away. Shareholder or co-ownership agreements can clarify and copper-fasten structures going forward.

We have considerable experience in succession planning for family businesses to ensure the effective and timely passing on of the family business to the next generation, at the same time catering for the needs of those who wish to retire.