Private Wealth

The simple answer is yes. In recent years the law has developed to make pre-nuptial agreements very powerful documents, provided all the necessary legal requirements have been met.

At Goughs Solicitors we act for many wealthy individuals for whom protecting and passing on your wealth to your loved ones is an inevitable priority at certain points in life. Our expert team of family lawyers advise on pre-nuptial agreements to ensure that wealth passed down to children who plan to marry is protected. We also advise those who have married but have not received an early inheritance yet, and a post-nuptial agreement can be a sensible way to ensure protection for family wealth is in place before steps are taken to gift assets or money, or to transfer business assets as part of an early inheritance.

For those who have been married before, who are bringing high value assets to a marriage, are likely to inherit or receive wealth in the future, or wish to recognise the position of children from previous relationships, a pre-nuptial agreement, or a cohabitation agreement where parties do not intend to marry but will live together, is a sensible and even essential safeguard to put in place.

The Private Wealth team at Goughs Solicitors are specialists in advising on the creation and administration of Trusts, and in particular, in relation to the preservation of wealth. Trusts have long been used as vehicles to offer protection to family wealth.

A Trust will give assets to the people you allocate (the Trustees) to hold for the future benefit of others (the beneficiaries). Trusts can be set up during your lifetime (by using a Trust Deed) or upon your death (when included in your Will). Trusts are often used as a tool for the benefit of inheritance tax planning.

The Goughs Private Wealth team are able to offer bespoke advice in respect of every client’s individual needs.

Succession planning can involve making a Will to set out who you wish to inherit your assets. For complex families and particularly those with high net-worth, there may be additional steps required. This could be creating Trusts or family investment companies to protect your wealth for future generations. It may also include the appointment of professionals to assist in the management of your assets. Succession planning will:

Manage family expectations of their inheritance to avoid future disputes

Educate the next generation on their future responsibilities and how to manage their large inheritance

Minimise inheritance tax

Assist you in deciding how to hand over control of your business

Allow you to consider the rewards of allocating some of your wealth to charity.

Give you the opportunity to plan for unexpected circumstances, such as losing mental capacity

The Private Wealth team at Goughs Solicitors, Wiltshire, specialises in advising clients on how best to structure their estates to ensure their wealth is passed down through their family.

A Will may be the most important legal document a high net worth individual can consider and create. A Will sets out how your assets, business, property and finances, will be distributed on your death.

Although, in cases of ultra high net worth estate planning you must have a very clear and comprehensive idea of how you wish your assets to be broken down on your death. A Will is the essential part of the process to ensure this happens.

Goughs Solicitors can offer advice tailored to you and your family to create a Will that suits your requirements. A vague or confusing Will may get contested after your death which will ultimately mean further suffering, and financial burden, on those left behind.