legal & financial
SECURE YOUR FAMILY’S FUTURE FOR GENERATIONS PHILLIP BOLTON, Head of the Private Wealth Sector at Goughs Solicitors, offers advice on estate planning for family business owners.
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uccessful high net worth estate planning involves multiple elements, from tax planning to the use of trusts and Wills, and from prenuptial and postnuptial agreements to property acquisitions and disposals. Each element needs to be very carefully structured and integrated. Goughs Solicitors find practical solutions to meet our clients’ objectives in relation to tax efficiency, asset protection and succession planning. Phillip Bolton
generations. It is possible to structure one’s estate to mitigate exposure to inheritance tax and claims on estates to enable the family business to have the greatest chance of successfully passing on to future generations. I enjoy the challenge of such estate planning and the stimulation of working with families through the generations to ensure security of the families’ wealth. I always offer one fundamental piece of advice: everyone knows they need a Will, but I can’t stress enough the importance of ensuring it is up to date and sits alongside a lasting power of attorney. Also, where families have businesses or partnerships, it is also essential to have shareholders and/or partnership agreements in place.
At Goughs we take the time to get to know you and your family before These topics are often of great importance to family business owners advising how best to protect your financial future. With a specialist with the members of the family who Private Wealth sector, we have have started the business (often the parents) having a strong desire to pass exceptional depth of knowledge the business on to a child or children. Goughs can help you to secure your family's There are a number of threats that financial future could obstruct this desire, such as inheritance tax and claims made on estates. It can be very concerning for family members to learn such threats exist to the successful succession of their business through family
"At Goughs we take the time to get to know you and your family before advising how best to protect your financial future." 70 THEWESTWILTSMAGAZINE
among a variety of services to ensure they are always delivering the best advice to you.
OUR PRIVATE WEALTH EXPERTISE INCLUDES: • • • • • • •
Private Wealth & divorce Pre & post nuptial agreements Trusts Tax, estates & succession planning Wills and probate Estate planning, UK & abroad Purchase & sale of high value properties • All areas of non residential land & property acquisitions & disposals • Business succession planning, including business restructures, refinance arrangements & preparing shareholder agreements Don’t risk expensive mistakes. Choose Wiltshire’s largest wealth protection law firm. Get in touch today at info@goughs.co.uk, online or by calling 01249 712193. • goughs.co.uk
