Estate and Succession management
We work with our clients to ensure a controlled and sensible succession of property protected assets to the next generation
We offer a range of related services including will writing, drafting of lasting Powers of Attorney, Inheritance Tax planning, Estate Administration , Domicile advisory and asset protection advisory
What We Do
We work with our clients to ensure a controlled and sensible succession of properly protected assets to the next generation
Having worked hard to build your wealth it is important that this is protected and secured not only to provide you with the means to enjoy financial security but also to pass on to the next generation. Succession planning takes many forms. It may involve financial protection through varying forms of life and critical illness cover. It may involve ensuring that a surviving spouse or civil partner is properly protected. It may involve structuring and planning to minimise the diluting effect of Inheritance Tax. Having up to date wills and Lasting Powers of Attorney, as well as Living Wills is also important, as well as the need to ensure that assets are proper protected in the event of relationship breakdown.
We sit independently of your investment and insurance advisers and can advise you impartially on how best to structure your private wealth. We seek to understand your circumstances, objectives and family position fully in order to provide you with transparent and unbiased advice that is right for you.
Services
A full suite of Succession, Legacy and Will Writing Services
Building a safe succession plan can be very easy . Equally, it can be more complex and require a long-range view and planning perspective. Spice Succession provides full and impartial advice and delivery in all areas of succession planning and works with trusted Third Parties once a plan of action has been established. Whether your need is a simple as having a new will drawn up or understanding and planning for Inheritance Tax, or whether complex multi-generational family dynamics and financial interests need to be managed, Spice Succession can help. Spearheaded by Martin Rimmer BSc Hons (ATT Fellow).
Wills Advisory, Lasting Powers of Attorney and Living Wills
We advise on what wills, LPAs and Living Wills are needed in which jurisdictions, and what each should say. We will work with you to design each document, ensuring that your wishes are fully adhered to. We work with a trusted Third Party for the drafting of multi-jurisdictional wills, LPAs and Living Wills and manage that process for you. We will also provide advice and guidance on how to document your arrangements for your next of kin.
Domicile Advisory
Your domicile status determines the extent to which you are exposed to Inheritance Tax as well as Income and Capital Gains Tax liabilities whilst resident in the UK. We can provide full and comprehensive advice on your domicile position, tax planning opportunities associated with non-domiciled status as well as detailed and case law based opinions on achieving a Domicile of Choice outside of the UK.
Asset Protection Advisory
Asset Protection starts now. Whether it is simply a case of assessing needs for life and critical illness cover, business succession planning, identifying and neutralising threats to your financial security or putting measures in place to protect specific family members, all of our Succession Planning work focusses upon ensuring that your wealth is as reasonably protected as possible against the unexpected as well as the inevitable.
Trustee and Executorship
We do not provide these services within the Spice Advisory network of companies. However, we work with a range of trusted Third Parties who can act as your trustees and executors of your wills.
Inheritance Tax Planning
The global assets of the vast majority of British expatriates remain fully within the scope of Inheritance Tax, even whilst living in Singapore. We provide full advice on all aspects of UK Inheritance Tax and we work with our clients to explain how the system works, how and when the tax applies and we outline tax planning options. We calculate current and projected tax exposures and design personalised short, medium and long-term plans to mitigate the worst effects of Inheritance Tax. In conjunction with our member company Spice Taxation, we will work with you to ensure a controlled, risk-managed, tax-efficient and sensible succession of your hard-earned wealth to the next generation.
Asset Structuring
Family Trusts can provide important succession planning advantages, such as the avoidance of probate and asset protection and can create a lasting multi-generational financial legacy. They can, however, carry tax implications which need to be weighed alongside questions of control and influence. Family Companies can also assist in the controlled succession of assets without loss of control in many circumstances. These need to be weighed against the pros and cons of direct succession and the broader question of intergenerational asset protection. We make recommendations for suitable structuring based upon your personal circumstances and best interests.
Legacy Planning, Philanthropy and Financial Education
Succession Planning is not just about assets. It is about values – the values you want to inculcate and transmit to your next of kin – values of stewardship, financial ethics, philanthropy, prudence and restraint and whatever motivates you financially. You can expect us to care about these aspects when drawing up plans for the controlled succession of assets. We are also able to work with your beneficiaries, as much or as little as you wish, to enhance their abilities to manage and take responsibility for private wealth.
For more detailed information about Spice Succession services please enter your contact details in the form opposite or use the email address below and we will be in touch with you shortly
- succession@spiceadvisory.com
Spice Succession is a member firm of the Spice group of companies