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.
Succession planning can involve making and 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 decide how to hand over control of your business
- Allow you to consider the rewards of allocating some of your wealth to charity (find out more of the benefits by clicking here.)
- Give you the opportunity to plan for unexpected circumstances, such as losing mental capacity
At Goughs Solicitors, we have specialist lawyers who can advise you on succession planning and the preservation of wealth through generations.
Phillip is a Partner in our Private Client Team and Head of the Private Wealth Sector. Phillipbolton@goughs.co.uk.
"Phillip did a terrific job. He pointed out and explained clearly many intricacies which we’d have missed. His style is friendly and entirely approachable. Throughout the process he was patient, thorough and clear-thinking - greatly appreciated!" April 2020