6 Common Issues with Managing a Trust
Trusts are an invaluable part of any comprehensive estate planning strategy. These versatile legal agreements have a variety of uses, from protecting wealth and limiting tax liabilities, to avoiding probate and safeguarding assets for future generations. Given that the process of managing a trust can be complicated, it’s common for disputes to arise over their…
Read MoreCalculating Share Values for Probate
When someone passes away, their estate needs to be administered and distributed to beneficiaries. As part of this process, the deceased’s assets are valued to determine how much inheritance tax is owed. In the cases of wealthy individuals, entrepreneurs, business owners, etc., it’s common for these people to own a variety of different shares and…
Read MoreUnderstanding Post Termination Restrictions
Also referred to as “restrictive covenants”, post termination restrictions are designed to limit certain activities by former employees and protect businesses from potential harm. They represent a delicate balancing act between employers needing to preserve their interests and former workers wanting to freely pursue new opportunities. If businesses and individuals wish to avoid the prospect…
Read MoreThe Ultimate Guide to Shared Ownership Staircasing
Shared ownership has been heralded by many as a way to enable more people to get themselves on the residential property ladder. It involves purchasing a share in a house or flat (usually via a mortgage) and then paying rent on the remaining portion to a Housing Association. If you decide to go down the…
Read MoreUnderstanding Wealth Protection & Tax Planning with Trusts
Everyone wants to look after their family’s future and ensure subsequent generations can benefit from their hard-earned wealth. Two of the key elements of this is to protect assets and reduce tax liability, thereby safeguarding as much of what you own as possible. But how should you go about this? The answer lies with setting…
Read MoreWhat Qualifies as a Protected Disclosure?
Whistleblowing can be an important way of highlighting wrongdoing in the workplace. In ‘blowing the whistle’, an individual will be protected by law from any adverse effects from the disclosure — such as demotion, dismissal, or a deterioration in the working environment. If any of this does happen, the employee will have the right to…
Read MoreKey Family Farm Succession Planning Tips
Family farm succession planning can be an essential step towards drawing up a long-term plan for your home and business. As well as offering clarity about the future of your farmland, it also improves the likelihood of a seamless transition between you and the beneficiaries of your estate. If you need specialist guidance to develop…
Read MoreReasons to Vary a Child Arrangement Order
When a relationship ends, making decisions about the welfare of any children or dependents can be extremely challenging. While some parents may be able to agree child arrangements between themselves — either having them recorded as a parenting agreement or by making an informal arrangement — others will need to go to court for a…
Read MoreThe Process of Selling a Business
Selling your business can be a complex undertaking with far-reaching implications. From considering tax liabilities to understanding employment law obligations, there is a lot for company directors to take on board. Although no two firms are ever the same, there is a standard process of selling a business which will usually be followed. Obtaining specialist…
Read MoreEverything You Need to Know About Family Farm Partnerships
Family farm partnerships are extremely common in the agricultural sector. For many farmers, these agreements are loose and undefined. It might even be assumed that because a long-term partnership is working well for all parties there is little reason to formalise it in writing. While there is no legal obligation to set out your farming…
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