Calder Succession provides the formal and detailed planning to help our clients to both minimise their estates’ liability to Inheritance Tax, and also protect the wealth they have worked so hard to create. Advice is given on the most appropriate way to write your will, what trusts should be created (and when), what assets should actually go into the trusts, who will benefit and who has control.
Once a plan is agreed, our team drafts bespoke wills and trusts for each client (as no two situations are the same) and we guide you through to the signing ceremony, being there to ensure the process is as smooth and easy as possible.
This is the vital platform to everything we do as a Group as without this stage you have no control on where your wealth goes, when it gets there and how much is left!
Services Offered –
- Succession Planning
- Inheritance Tax Planning
- Trust Creation and Management
- Lasting Power of Attorney’s
- Deed of Variations
- Trust Review Service
- Business Succession
- Cross Share Agreements
- Business Trusts
- Family Investment Companies
We all know the importance of having a will, yet two thirds of the UK population still do not have even a basic will!
A will is vital to ensure your wishes are carried out upon your death, as without it the rules of intestacy take over and the time and cost of distributing your estate increases. Never mind the loss of control – you no longer dictate who inherits and how much. Instead the state make the decision on your behalf!
Trust have been in existence for centuries and other than tweaks and changes here and there, the principles behind them have remained unchanged.
You still pass assets to the trust to be cared for and looked after before eventually passing to the people you want to benefit from at the appropriate time in the future.
We could make it more complicated , but in principle, that is a trust. We will leave it to other professionals to add layers of confusion so they can justify their fees!
With our clients, we look to understand their goals and objectives, create the most appropriate trust, explain the rules and then work with them to ensure that everything is done correctly from there on in. As the meerkats say “Simples”
Lasting Power of Attorney’s
If you look at the internet it is apparently more likely that you will need a Power of Attorney than being struck by lightning before you die! We honestly don’t know the truth of that, but we do know that Power of Attorney’s are vital to ensure that your loved one’s can look after you and protect your wishes and assets if you can no longer do so if you are no longer deemed able to either mentally or physically!
We also stress that this is not an age issue, you lose capacity at any time in your life and therefore t is a vital elelment of planning no matter what
Property & Finance
Health & Welfare
We work with a specialist company to ensure that these documents are created to your wishes and all the legal protocols are followed to the latter.
Deeds Of Variation
In over twenty years of working with clients succession needs, this is an area that the government have looked at closing down, year after year after year! It does seem to be a solicitors favourite way of planning, wait until you are dead and then sort out your affairs according your loved ones wishes!
There are times where your estate needs to be varied, but we believe it is better, and easier, to do it before you die.
If it is needed, the rules are simple – you have two years from the date of death to make the changes, all beneficiaries must agree to the change even if they are not effected by it and it cannot reduce the tax bill on the estate.
We do find it is great to help pass assets through to future generations if you are inheriting and don’t need the inheritance, just we prefer to get things right in your lifetime where ever possible.
Trust Review Service
If you already have trusts, that is great news! It shows you have taken positive steps to start protecting your estate and look after your loved ones, but is it still relevant and appropriate to your needs?
We can look at the arrangements you have, consider them against your goals and objectives and from there ensure that everything is still aligned correctly. If they are not? Don’t worry, we have the experts who can see what needs to be done, explain it to you in detail and then make the appropriate changes to your planning.
After you have spent blood, sweat and tears in building a business that can look after and support you and your family, how do you ensure that the value is passed on and protected should you not become seriously ill or pass away?
Lets be honest, when you set up your business the last thing on your mind is what will happen to the business when you die? You perhaps hope that your children might want to take the business on and work in it? Perhaps you have a management team that you believe can take over and run the business for your spouse? Would they really still be happy to work hard for someone who might not understand the business? Would they not prefer to take the business on themselves?
Then there is the question of any business partner you may have. How would they feel if your family started calling the shots in the boardroom, or demanded the same income you are taking but without putting in any work?
By having the appropriate arrangements in lace, you can ensure that there are fund for the business to pay a true value to your family while partners keep control. You can protect the shares for your children if they want to become involved in the business, but you are concerned that any future divorce could have an detrimental impact in the future.
We can also put the appropriate planning in place to ensure your keep the Inheritance Tax benefits that your business might enjoy once you sell.
We utilise Cross Share Agreements and Business Trusts as part of the tools available.