What Happens Following the Death of a Shareholder?
The death of a shareholder can not only be a difficult time for the family, but also for the business itself — especially if the individual is also a director of the company. Building an enterprise and making it a success takes a great deal of effort, often meaning estate planning is pushed down the…
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 MoreThursfields Corporate Team assists with Simon Lancaster’s Acquisition of Worcester City Football Club
Thursfields Solicitors corporate and commercial team, led by Philip Chapman, Corporate Director, and supported by Hannah Clark, Commercial Associate Director, advised Simon Lancaster, CEO of SJL Insurance, on his purchase of a 51% majority stake in Worcester City Football Club’s issued share capital. The acquisition saw Mr Lancaster invest significantly in the club, granting him…
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 More