Strategic advice ensures business owner’s estate structured efficiently

When a company owner was in need of inheritance tax (IHT) and succession planning advice he turned to HCR’s Private Client team for advice.

As both the client and his wife had children from previous marriages, the team reviewed their existing provisions to make sure their affairs were in order and to avoid any issues further down the line. This led to an updated will, with gifts between the client and his wife, and a review of their existing trust provisions.

The Private Client team advised on establishing a family investment company with a stratified share structure, allowing the client’s children to start getting used to owning and managing significant assets.

As this was a second marriage, we also worked with our family law colleagues to discuss the use of a post nuptial agreement and encouraged the client to communicate their plans to avoid any future surprises or disputes.