News | December 12, 2022

In Trust – Winter 2022/2023 Welcome

Welcome to the Winter 2022/2023 edition of In Trust. Our team continues to grow and I would like to welcome Emily-Jane Lee who has joined as a solicitor in our Onshore team. In addition, I am delighted to announce the very recent addition of Rudy Capildeo and Tim Maxwell as our new Co-Heads of Art & Luxury law together with their colleagues, Petra Warrington (senior associate), Tamara Bell (associate) and Jil Birnbaum (solicitor) who have joined us from Charles Russell Speechlys LLP.

The Chancellor’s Autumn Statement was delivered on 17 November with the premise to “ask more of those who have more” While many of the tax predictions proved to be accurate, it was perhaps not as extreme as some may have feared. I outline some of the key consideration in the Statement in my article.

Senior associate, Emily Minett looks at the importance of pre-death planning and some of the key considerations; while associate solicitor, David Toms highlights the difficulties faced by personal representatives when tracing beneficiaries of an intestate estate.

When making a Lasting Power of Attorney and/or Will, choosing the right attorney and executor is key; solicitors Harriet Ballard and Olivia Ufland highlight the issues to consider and the differences between the two roles.

Clients from the UK with assets abroad may be surprised to learn that planning recommended by advisers in the country where they have an asset can cause unexpected tax liabilities in the UK. This happens all too often, even with planning which is completely standard in the local country. In their article, partner George Merrylees and associate Andrew McIntyre from our Offshore team, examine the arrangements which are most often prepared without taking UK advice, due to an expectation that they would have no tax consequences here. These are mainly found in France, Italy, Germany, Spain and South and Central America.

In her new column, Disputes Digest, solicitor Helena Taylor looks at common scenarios the Private Client Disputes team encounter, how they can arise and be avoided, and what to do should they happen to you. In this edition she examines why someone may challenge a Will.

The transparency of offshore holding structures for UK property has been on the government’s radar for some time but it was the Russia-Ukraine crisis that accelerated plans to introduce a public register of overseas entities holding UK property. Senior associate, Sally Spicer, updates us on the new Register of Overseas Entities rules.

And we profile Michelle Jones, our senior trust manager, who has been with Wedlake Bell for eleven years, about her evolving role.

Finally, I would like to wish you a Happy Christmas and a healthy and prosperous 2023 and we look forward to advising you soon.