Wills and Estate Planning

We take a holistic approach to wills and estate planning.  Members of the Pannone Corporate team meet with you in order to understand the whole picture; including the nature of assets, the way in which you expect your business to be run and the commercial and practical implications of any arrangements that are to be put in place.  Our estate planning solicitors also advise on the pros and cons of establishing asset protection trusts to assist in the smooth running of family businesses. We specialise in providing tax efficient solutions for owner managed businesses giving clients the peace of mind that their business could continue as they wish.

Family businesses present particular challenges as it is common for some family members to work in the business and others not to have any day to day involvement.  It is possible to split economic ownership and control so that you can choose who runs the business following your death with economic benefit and profit being distributed amongst your beneficiaries as you wish with an asset protection trust.  Discretionary trusts are often used in this context to ensure fairness between family members, so it is important to ask your estate planning solicitors to advise the best solution for you. It is also important to consider board representation as passing shares to your beneficiaries does not necessarily give them control in terms of day to day management of a business.  

Planning often includes life assurance policies and cross-option agreements to allow executors of a deceased’s shareholder to receive cash rather than shares in the business.  

We have unrivalled expertise as estate planning solicitors in the North West in wills and Inheritance Tax planning for non-UK domiciled clients.  Clients domiciled in certain jurisdictions (even if long-term resident in the UK) can have particular opportunities to shelter non-UK situs assets from UK Inheritance Tax.  We specialise in drafting dual will structures for Indian domiciled clients taking into account provisions of the UK / India Double Tax Treaty and have significant experience dealing with HMRC in relation to claims made under Double Tax Treaties.