Tax Planning And Trusts Solicitors for clients in Sussex including Brighton, Uckfield and Seaford
There are many occasions, such as a sudden inheritance, when tax advice is invaluable.
Parents may plan to provide money to assist their children in buying a house or setting up a business; good legal advice is essential to protect your investment. Your will may need to be reviewed to reflect the gift to that child. A trust deed may need to be signed by you and your son or daughter to ensure that in the event of a problem, such as that child going through a divorce, your money is not lost to a third party.
At Rix & Kay, we understand that everyone’s circumstances are different. We work with clients to make sure each will is tailor-made for each individual. We advise on all options available. Clients are given advice about the most tax efficient way of passing on an estate to the next generation.
Family Businesses
We understand that succession planning can be difficult; there are usually different family interests to consider. What do you do if one child works in the business and one does not? How can you safeguard the business if your child gets divorced? How can you treat children equally if you want one to inherit the business but not the other? What tax reliefs are available? How can you plan your exit from the business but retain some control?
Rix & Kay offers a complete service for business clients. We advise on the way in which business interests can be dealt with and we help ensure your company documentation covers all eventualities. Shareholders often assume their shares will pass to the beneficiaries named in their will, but this can only happen if the company documentation allows the shares to pass under the will.
If you have business interests your will cannot be drafted in isolation. Working closely with our colleagues in our Company /Commercial department, we are able to offer a full service.
Farms
Based in the heart of rural East Sussex, Rix & Kay is often called upon to represent the interests of rural industries. As such, we understand the special factors relating to agricultural property and how these need to be taken into account when drafting a will. Assisted by colleagues in our agricultural property team, we ensure a full range of options are considered.
Family circumstances are key. Many of our farming clients want to pass their business on to the next generation. They want this arranged in a way that reduces the likelihood of family tension and factors in all of the relevant tax implications.
