What options do I have for managing the family estate? Rupert Mead answers a reader's question in the FT
Rupert Mead, Partner in our Private Client Team, answers a reader's question, 'What options do I have for managing the family estate?' in the Financial Times "Your Questions".
In his response, Rupert explains that the ownership of an estate comes with benefits but also some significant challenges. He recommends seeking professional advice to ensure that owners can maximise the financial performance of their property, mitigate the effects of taxation and hold onto their assets for future generations.
Rupert highlights the key points to consider, including:
- Whether the estate is held in trust or not.
- Hiring the right people to help manage the estate.
- Taking advice from an accountant and solicitor to advise on the most efficient legal structures and to mitigate potential tax liabilities.
The article sits behind a paywall and can be found here.
From growing a business to starting a family or handing over control of that business to the next generation, every individual has their own goals to aspire to. Our Private Wealth lawyers advise our clients throughout this family life cycle, providing the legal advice required for specific transactions such as purchasing a home or selling a business, whilst also advising on the long-term opportunities for succession and estate planning.