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Succession planning

Passing on wealth is a choice of great personal significance. We can help you manage this process and ensure tax planning is considered.

Succession planning is a careful balancing act. We can work with you to ensure that you not only preserve your wealth but that the right people and protections are established around it. Getting this right will provide you with clear direction and help to avoid conflicts and sensitively manage family relationships.

We know that there is much more to this than pure legal structuring. Each family is unique with its own priorities and ambitions. We will discuss your goals, and then take a multi-disciplinary approach, putting a structure in place which allows you to achieve them.

The UK tax regime also plays a key role. There are incentives to pass on assets during your lifetime. We will help you navigate the UK landscape to find the most practical solutions for you.

Finding the right structure for you

A number of solutions can be considered, including the use of trusts, Family Investment Companies, family businesses and Family Charters. Choosing the right structure enables you to pave the way for future generations. Giving you the control and flexibility to suit your changing needs.

Creation and management of trusts

We regularly advise on the creation and management of trusts. As a traditional vehicle for succession planning they have a number of advantages. They allow assets to be held for the benefit of future generations but with control retained by the trustees.

Family Investment Companies in succession planning

We are increasingly seeing the use of Family Investment Companies as a tool for succession planning. They provide a flexible way of retaining control of wealth within the first generation whilst passing value – tax efficiency – to the next generation. Different classes of share can be used to suit the particular needs of different members of the family.

Family Charter and letter of wishes

We can also help you plan succession through Family Charters and letters of wishes. Family Charters are statements of intent relating to the running of family businesses. Letters of wishes guide those responsible for administering the inheritance of more diverse assets. They can help to build an embedded ethos within your family and create a roadmap for the future that successive generations can follow.

Areas where we can help

  • Asset protection on marriage
  • Business succession
  • Family companies and partnerships of various forms
  • Family Investment Companies / Partnerships
  • Life insurance and life insurance trusts
  • Tax planning
  • Trusts
  • Wills

Meet the team

Our succession planning experience

Our client successes

  • Case study
  • Structuring wealth for generations

    2 min

    Discover how we work with families to help them create appropriate holding structures for family wealth and governance.

    Read the case study

    How we made a difference

    Contact us

    If you have a question or need advice, please let us know how we can help.