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thepartners@wrigleys.co.uk

Leeds: 0113 244 6100

Sheffield: 0114 267 5588

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How can Wrigleys advise on protecting your assets?

Asset protection can take many forms. It can be motivated by a wish to avoid or defer a capital tax charge, an intention to provide for family members, or a desire to safeguard personal wealth in the event of a divorce or separation.

Lifetime gifts and planning

Asset protection can involve outright lifetime gifts for the benefit of future generations.

If the intention is to bypass one generation completely in the interests of saving tax, the use of trusts can be an important part of this.

If assets qualifying for 100% business and/or agricultural property relief are involved, these may be placed in trust or added to an existing trust without an inheritance tax charge.

Trusts can enable an individual to reduce his or her estate for inheritance tax purposes but without placing assets directly into a beneficiary's hands, so they can offer an additional level of control that is not available on an outright gift.

Family investment companies

Family investment companies can be another effective way of safeguarding assets, and these are becoming increasingly popular with clients as an alternative to trusts. They often involve complex tax considerations as well as questions of company law, and we have considerable experience of advising our clients on the issues they present.

For further information, please download our Briefing Note below.

Not just saving tax…

Looking beyond tax can be a key part of asset protection. Wrigleys can advise on the most tax-efficient ways of protecting your assets, as well as considering possible alternative ways of achieving your aims such as:

  • Providing for vulnerable individuals;
  • Handing over a business;
  • Preserving existing wealth for future generations; or
  • Protecting against insolvency.

Pre- and post-nuptial agreements

Increasingly, pre- and post-nuptial agreements are used in order to help safeguard a married couple's assets should they divorce. Cohabitation agreements are also becoming more and more common for non-married couples who wish to live together but protect their wealth should they separate. We can prepare and advise in depth on all of these, as well as any relevant tax considerations.

Further detail on these agreements, together with cohabitation agreements, can be found here.

Of Marie-Louise Hamilton: "very intelligent and competent practitioner who is absolutely delightful to deal with"

"excellent private client practitioner" Andrew Wriglesworth in known for his "excellent technical knowledge and experience."

- Chambers & Partners 2019

Marie-Louise Hamilton View Biography

Marie-Louise Hamilton

Direct Line: 0113 204 5713

Partner
Leeds

Andrew Wriglesworth View Biography

Andrew Wriglesworth

Direct Line: 0113 204 5719

Partner
Leeds

Meet the team

12 Dec 2018

Enfranchisement reform - implications for community-led housing

We look at the impact of proposed changes to enfranchisement law – community-led housing (CLH) groups should respond before 7 January 2019.

30 Nov 2018

Will a refusal to offer a trial period make a redundancy dismissal unfair?

Yes, the refusal of a contractual right to a four week trial period in an alternative role is very likely to lead to an unfair dismissal (EAT).

30 Nov 2018

Can an employee be dismissed for incapability if their contract provides long-term disability benefits?

Incapability dismissal may be unfair and discriminatory if employee is contractually entitled to income when incapacitated by permanent disability.