Here is how we’ve helped.

Here is how we’ve helped.

Here is how we’ve helped.

wealth preservation

How not to inherit your inheritance?

The client is London-based with close family ties to Stamford. They have two children who also live and work in London and several grandchildren. They have significant personal wealth and have sufficient income for the rest of their lives.

The challenge

One of the couple lost a parent who left a significant amount of money which was not expected. The clients already had a large inheritance tax liability due to their own wealth. Receiving these funds would cause them to exponentially increase their tax liability.  Furthermore, they did not require the money, but they do want their children and grandchildren to benefit from it.

Our solution

We recommended that they apply a deed of variation to the Will. This allowed a percentage of the money to be passed to the clients via a discretionary trust and so was outside of their estate. The deed also allowed for a portion of the money to be passed directly to the clients’ children.

The discretionary trust then loaned the clients the money and we invested this in a product whereby the funds would be outside their estate after 7 years. Upon their deaths, the estate would have to pay back the loan which meant that we reduced their personal inheritance tax liability. The total estimated saving for the client was £480,000, which would have been due to HMRC upon their deaths.

medical insurance

Navigating the way through medical insurance options.

The client is a new business venture undertaking building projects in conjunction with their parent company specialising in the design and construction of residential, commercial, civil and industrial developments across the UK.

The challenge

The challenge for our Clients was to understand medical insurance and the options available to them.

They are a new business and are likely to grow very quickly in the near future and were keen to put in place a comprehensive benefit package to attract, recruit and retain further good quality staff as they expand.

Our solution

We met with the Clients, discussed the options available for medical insurance, agreed an outline of the benefits they wished to include and sourced the market on this basis.

We presented our findings to the Client, explained the proposed plan, confirmed cost and highlighted any exclusions to ensure the Clients fully understood.

They happily proceeded and are now adding new members!

life assurance

A widow’s comfort.

The clients are a married couple working hard running a small limited company. They had recently arranged a re-mortgage and wanted to protect the mortgage in the event of either of them dying.

The challenge

We were approached by a mortgage broker who had arranged a recent re-mortgage for a client but was unable to arrange a suitable life protection policy as the husband had recently been diagnosed with cancer.

Our solution

As experienced providers of business protection we knew that as he was a director of his own business with his wife and at this stage still working we were able to put in place a death in service arrangement for both directors with £250,000 of cover. As this was a death in service arrangement there was no medical underwriting required.

 Sadly after 2 years fighting against the condition the husband died. It gave the widow some comfort when the policy paid out the lump sum tax free so that she could clear the mortgage.

will writing

Would you really want to work with your mother-in-law?

A young unmarried couple recently visited us who were looking to start up their first business together.

We soon discovered that neither of them had a Will or had investigated putting agreements in place should one of them suddenly pass away.

The challenge

If a company’s Articles of Association document doesn’t stipulate what should happen upon the death of a director or shareholder, then the shares of the company will pass under the terms of their Will.

As the young couple’s document was fairly basic, they weren’t married and had no children, the whole of their estate would be shared between their parents if they passed away, including their shares in the company.

Our solution

The Articles of Association or Shareholders Agreement can be drafted to address what will happen in the event of the death of one of the shareholders/directors.

Working with us, our chartered financial planners and our legal partners we are now working with the young couple to put these in place and we are advising on maximising other areas of their business.

Looking for something else?

Have a look at all the services we offer.