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Wrigleys' succession planning specialists for family businesses

Whether it involves handing on the stewardship of a landed estate, arranging for younger generations to take on a family company, or simply passing on the benefit of private wealth, succession is at the front of many of our clients' minds and will often be the main motivation for any tax and estate planning.

What advice does Wrigleys offer?

It is important to view succession planning as part of a long-term exercise. Deciding which assets to hand on or retain, and when to do so, can be an important part of this.

Frequently, succession planning is coupled with maximising available inheritance and capital gains tax reliefs, in order to ensure that the assets concerned can be passed on, intact, without an onerous tax liability. This will normally involve a detailed analysis of a client's assets.

Some assets may not be integral to the overall running of the enterprise concerned and may not qualify for any tax reliefs, so could be suitable for giving away in the nearer future. Others may not qualify for tax reliefs at present, but may be a central part of the client's estate, and, given the right conditions, may potentially qualify for reliefs in future.

Is timing of advice important?

Tax reliefs cannot always be secured quickly, so it is vital to take advice early in order to secure them before it is too late.

‘The speed and responsiveness with which individuals at the firm respond to clients and other professionals is commendable.  I believe for a firm to maintain this level of service, certain qualities are embedded into the core culture and it is my impression that this is the case at Wrigleys.’

Chambers and Partners HNW Guide (2021)

 

14 Jun 2022

Senior pensions lawyer, Helen Woodford, joins Wrigleys

Helen Woodford has joined the Pensions team on a permanent basis, following her recent involvement with the firm in a consultancy role.

08 Jun 2022

Private client consultant solicitor, Antonia Moore, joins Wrigleys’ Leeds office

We are delighted to welcome Antonia Moore to our Leeds office.

07 Jun 2022

Holly Marshall qualifies

Holly Marshall has been offered a permanent role with Wrigleys Solicitors following her successful training contract.