Succession planning can be a sensitive subject and difficult to discuss. But planning ahead will be the only way to make sure that your assets are passed on to your beneficiaries in the way you intend, while not inadvertently leaving the next generation with unexpected tax liabilities.
Effective planning must include an understanding of current assets, future plans, the tax status of your beneficiaries and their tax obligations. Any planning should also, where appropriate, be flexible to take into account the ever-changing landscape of future tax legislation in the US, UK and elsewhere.
There are many variables, especially when dealing with cross-border matters, and the best tax answer may differ from what you had previously considered.
With significant experience in UK and US tax matters, Frank Hirth’s Trust, Estate and Family team will listen to you, taking the time to understand your objectives and aspirations, and help you and your family to implement effective estate planning strategies.
We will work with other professionals where appropriate, such as trustees, legal advisers and investment managers to ensure we provide the best possible support as you plan for succession.
Do you live in Bristol, Exeter, Reading or Norwich? Our regional seminars are coming to you... ow.ly/Q1Py30fTZfp
What do the deemed domicile rules mean for US individuals? - There have been numerous articles published which address the new ‘deemed dom’ regime which, subject to the 2017 second…
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