Inheritance & succession planning

Succession planning is the preparation required to ensure that the management and assets of a business are transferred in such a way that the business remains as viable as it currently is whilst continuing to meet the needs of the retiring owner. 

Planning now will prevent your hard work being consumed in a difficult transition and potential litigation between family members in the future.

You might be faced with a variety of problems including:

  • a desire to pass on the assets of a business to the next generation whilst retaining control;
  • the need for orderly succession and motivation of the next generation;
  • complexities surrounding the use of non-trading assets in the business;
  • family tensions and the desire to provide for those members of the family who are not direct participators in the business; and
  • non-family shareholders

Our team of experts regularly advise on these and many more issues and we can assist you in the preparation of a strategy suited to your individual needs and aspirations.

Understanding your business is essential to ensuring that you receive quality succession and tax planning advice. We will work seamlessly with your other professional advisors in order to provide you with “joined up” thinking on the issues you face. This approach will ensure that the professional advice given will safeguard family and business assets and will guide you through the complexities of succession planning between generations whilst mitigating any potential liability to inheritance tax, capital gains tax and stamp duty land tax.

Since your assets and your goals will vary in complexity and value over time it is important that your affairs are reviewed periodically. The team recognise this and we aim to listen rather than dictate and to build relationships with you and your family which can span the generation gap. By doing so we are able to assist you in adjusting your succession strategy to take into account the fiscal and family circumstances surrounding you at any particular time.

Working with you and your family we will advise you on:

  • The preparation and implementation of a strategy that ensures a successful succession of your assets to the next generation;
  • Putting in place wills that are appropriate and reflect your personal wishes, together with guidance on the needs of individual family members;
  • The preservation of agricultural property relief and business property relief;
  • The specialist issues surrounding non-domiciled clients and their assets;
  • All aspects of trusts as a means to facilitate the succession process;
  • Inheritance tax and capital gains tax mitigation strategies;
  • Appropriate corporate and partnership structures to facilitate the introduction of younger family members into the business and ultimately their succession to it; and
  • Preservation of all assets for future generations.

Our expertise in the above areas combined with a detailed knowledge of UK tax law enables us to suggest solutions tailored to fit you and your family’s particular needs.

Case studies

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Advising a family who owned a working farm with a number of cottages in Wiltshire on the availability of Agricultural Property Relief and Business Property Relief on the assets. This included restructuring the farming partnership to bring into the business...

Meet the team

First person - Wealth structuring and inheritance planning

Elizabeth Webbe

Partners

Gary Pick
Partner & Head of Private Client Services Group
Private Client
Poole
01202 339032
0779 381 6843
Private Client
Elizabeth Webbe
Partner
Private Client
Salisbury
01722 426943
07917 710 919
Private Client

Associates

Mihiri Gajraj
Senior Associate & Head of Private Client Southampton
Private Client
Southampton
023 8082 0544
Private Client
James Hammersley
Senior Associate & Head of Private Client Salisbury
Private Client
Salisbury
01722 426952
07467 943446
Private Client
Sarah Richards
Associate and Head of Private Client Poole
Private Client
Poole
01202 339025
Private Client
Martha Swann
Associate
Private Client
Poole
01202 339013
Private Client

Solicitors

Holly Algar
Associate
Private Client
Southampton
023 8082 0515
Private Client
Derek Bryer
Solicitor
Private Client
Salisbury
01722 426912
Private Client
Gary Cox
Consultant
Private Client
Poole
01202 339049
0782 601 9764
Private Client
Laura Stone
Solicitor
Private Client
Poole
01202 339038
Private Client

Chartered Legal Executives

Jenny Shucksmith
Chartered Legal Executive
Private Client
Salisbury
01722 426973
Private Client

Tax Advisor

Paula Arnold
Trusts & Tax Practitioner
Private Client
Poole
01202 339039
Private Client

Paralegals

Rachel Kent
Paralegal
Private Client
Salisbury
01722 426991
Private Client
Jodie Sainsbury
Paralegal
Private Client
Salisbury
01722 426970
Private Client

Trainee Solicitors

Arcadius Gregory
Trainee Solicitor
Private Client
Poole
01202 338555
Private Client

Legal Secretaries

Sarah Adams
Legal Secretary
Private Client
Salisbury
01722 426941
Private Client
Jane Bilton
Legal Secretary
Private Client
Salisbury
01722 426907
Private Client
Karen Carter
Legal Secretary
Private Client
Southampton
023 8082 0452
Private Client
Sarah Cobb
Legal Secretary
Private Client
Poole
01202 338558
Private Client
Jane Fielding
Legal Secretary
Private Client
Poole
01202 339006
Private Client
Rachael Francis
Legal Secretary
Private Client
Salisbury
01722 426941
Private Client
Ali Malone
Legal Secretary
Private Client
Salisbury
01722 426972
Private Client
Sandra Ross
Legal Secretary
Private Client
Poole
01202 339040
Private Client
Hayley Stack
Legal Secretary
Private Client
Poole
01202 339004
Private Client
Sonja Vine
Legal Secretary
Private Client
Poole
01202 339036
Private Client

General Staff

Helen Glatter
Chartered Accountant
Private Client
Poole
01202 339041
Private Client

Office Administrators

Kristine Neilande
Administrative Assistant
Private Client
Poole
01202 339046
Private Client
Emily Thompson
Administrative Assistant
Private Client
Salisbury
01722 426982
Private Client