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Structuring wealth for generations

25 Apr 2022 2 min

Each family is unique in its own way. Each has different core values and views on what constitutes ‘success’ and ‘governance’. Our private wealth and corporate lawyers work hand in hand to provide integrated advice around structuring wealth and family governance.

The interplay between family investment companies and trusts

Legislative changes coupled with changes in attitude over recent years mean that trusts are no longer the ‘one size fits all’ solution when it comes to holding family wealth. Family investment companies are increasing in popularity as flexible, tax efficient and more able to evolve. But it’s not always a binary decision – family investment companies and trusts can work really well together.

We worked closely with a wealthy family who ran a large and successful business in the South East (value in excess of £150m). The family were keen to explore options to restructure the holding company to bring in the second generation and create structures for the protection and transfer of wealth to the third generation and beyond. The family also wanted to embed the family ethos in a more tangible way that could easily be understood and adopted in generations to come.

Our approach: partnership in action

Our private wealth and corporate lawyers worked closely with the family as an integrated team over the course of a year, taking time to ensure we understood their core values and what they hoped to achieve.

The outcome: a meeting of minds for generations to come

Working alongside the first and second generation, we facilitated discussions around sensitive issues to ensure there was a meeting of minds, then worked with the family to document those decisions through a combination of trusts, a family investment company and family charter.

How we made a difference

Creating a structure for family wealth and governance is sensitive and should not be rushed or ‘imposed’. We were able to work with different generations of the family to talk through issues previously seen as taboo. The result is a structure that is future proofed –simple to understand, clear in its vision but able to adapt over time.