Services for Individuals
Corporate Services
services for individuals

Wills, Probate and Tax Saving Strategies

  • A lady whose mother had recently died contacted us. She was appointed sole executrix and beneficiary of her mother’s will. Her father had also died approximately 18 months before her mother, leaving everything to our client’s mother under the terms of his own will. Following the mother’s death, her estate consisted of the matrimonial home, cash in a building society account and various other investments.  The inheritance tax liability was in excess of £70,000. As our client approached us within 2 years of her father’s death, we were able to prepare a Deed of Variation, the effect of which, for inheritance tax purposes, was to alter the terms of the father’s will and redirect assets to our client so that the value of her mother’s estate was reduced to the point that no inheritance tax became payable. A full tax refund was issued to our client.
  • We were instructed by a couple whose only daughter is mentally handicapped. They were concerned as to how best to provide for her in their wills. We drafted their wills to include discretionary trusts so as to provide a means of benefiting their daughter in a flexible way, which could take into account changing circumstances, and also protect her inheritance.
  • Acting for various clients in connection with double trust schemes set up to reduce inheritance tax exposure on their residences, including advising on the effect of the introduction of the pre-owned income tax charge regime, unraveling certain schemes and advising on the retention of other schemes.
  • Advising on the establishment of accumulation and maintenance settlements for the grandchildren of clients to ensure the tax efficient devolution of family wealth to subsequent generations.
  • Advising numerous clients on tax efficient Wills, including nil rate band discretionary trusts, and subsequently setting up discretionary trusts on death including the implementation of debt/charge schemes in connection with the tax efficient ownership of residences.
  • Taking over responsibility for advising various generations of a highly successful Hertfordshire family with very significant personal, business and charitable interests, on issues of business structure and succession, asset distribution, devolution of existing family trusts and setting up new family trusts.
  • We were instructed in connection with a contentious probate case (involving issues of capacity, undue influence, and family provision claims) concerning the distribution of a valuable free estate (including significant chattels) and associated offshore trust interests. The case was referred to us by a prominent City private client specialist firm of accountants, and major City law firms are representing other interested parties.
  • We were instructed by the executors of an estate on a long running probate involving issues of farming, family disputes and partition of the estate. We were instructed to, and obtained, planning permission for residential development in the Green Belt, and dealt with these issues in the context of minimising tax liabilities.
  • We acted in the administration of an estate where the deceased had made substantial lifetime gifts and the Revenue argued these gifts were not covered by the exemption of normal expenditure out of income for inheritance tax purposes. We were able to successfully argue with the Revenue’s Compliance Group technical section that the gifts did qualify for the exemption, thereby saving the estate several thousand pounds of inheritance tax.