Business Wills & Succession Planning
Hewitsons’ Private Wealth team has long been providing specialist advice to business owners on matters such as Wills and inheritance tax, tax planning, lifetime gifts, trusts and Lasting Powers of Attorney.
For those involved in running their own business, whether as a sole trader or through a partnership or company, succession to the business, or the wealth that has been built up within the business, is of vital importance.
We can guide you through the aspects to be considered, advise on the inheritance tax position (in particular the availability of business property relief which can be of significant benefit) and prepare a Will to reflect your wishes.
As part of this, we ensure we understand the dynamics and structure of the business and the documentation that is in place, as well as your personal circumstances, the needs of the various family members and your wishes for the business going forward. We achieve this by working closely with you and with our colleagues and other professionals involved in the business.
We can also put in place Lasting Powers of Attorney, enabling your personal and business affairs to be dealt with by attorneys in the event of your incapacity.