Intergenerational Planning

We have acted for the Cartwright’s for many years. Originally we worked for them as they managed a medium sized business and then we were asked to work with their legal and taxation advisers with regard to a significant offer they received for the freehold interest in their shop premises.

They were lucky enough to sell the commercial site at the height of the property boom. Furthermore, we managed what would now be called entrepreneurs relief on the business thus enabling our clients to walk away with significant net assets.

Having received the funds, our client was initially very nervous about investing the cash (hardly surprising as this was in 2008). During this time we invested the maximum in fixed rate National Savings generating 4.5% gross pa. We also arranged a diverse range of structured and cash funds which maintained their income needs.

We dealt with some complicated pension products including the dismantling of a complex Small Self Administered Scheme (SSAS).

Subsequently we invested funds into asset backed investments and over the last 7 years have transferred over £900,000 to children in such a way that the cash is safe from spouses and creditors, yet is also a gift for inheritance tax purposes. The cash has been used to buy property so that the next generation is well set up for their own lifetimes.

Future plans are to increase asset backed funds and to gift more cash into trusts as and when the time limits for potentially exempt transfers (PETs) allow.

We do not make client details public, however if you are interested in becoming a client and would like to speak to someone who is like you and uses us now, please ask us to put you in touch.

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