Mr & Mrs South own a family business, and have joint assets in excess of £4m. They want to ensure that their estate is set up in the most tax efficient way, and that the business will be able to run smoothly after the first death.
In this scenario, we would need to have a detailed conversation with Mr & Mrs South regarding their assets, who they wish to benefit and the nature of the business assets. We would work closely with our colleagues in the Business Law team to ensure that any decisions that we make will work effectively with your Will.
Our experienced solicitors will advise on the use of trusts and applicability of Business Property Relief (BPR) to ensure that the business is passed down in the most tax efficient environment.