Succession Planning

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SUCCESSION PLANNING

Making a Will is a great step forward in your Succession Planning affairs, but it shouldn’t be looked at in isolation. If you have business interests, then there are a number of further things to consider. You may want to utilise trusts in your Will to safeguard assets for future generations, whilst at the same time mitigating inheritance tax. Business property relief from inheritance tax may apply to your business interests at either 100% or 50% and it is important to ensure this valuable relief is not lost, and is considered in relation to your Succession Planning instructions. Are your children involved in the business? Perhaps you want to ensure you treat all your children equally, even if some are not shareholders, and there are steps you can take in your Will to achieve this.

Whether completing a Will for the first time or wanting to review an existing Will, one of the things we will need to do is understand your family circumstances and financial position so we can give you “best advice” and the various options available to you, so you can make informed decisions.

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