Expertise
Nick works with high net worth clients, advising on estate and succession planning strategies. He advises on tax efficient lifetime giving, the use of trusts as a vehicle for long term succession planning and the preparation of tax efficient Wills.
Nick also has a particular focus on the administration of complex high value estates, often covering multiple jurisdictions. This includes advising families on post death tax planning options.
Nick assists with the management of family trusts, as well as providing advice to trustees on a range of issues, including the simplification of complex trust structures and tax mitigation opportunities.
Recent Experience
- Acting as the lead lawyer on the administration of high value multi-jurisdictional estates, which include negotiating with HMRC on the claim of valuable inheritance tax reliefs and exemptions, co-ordinating advice on international succession issues and advising executors regarding the impact of domicile on tax and estate succession.
- Advising families on post death estate variations in order to mitigate inheritance tax, capital gains tax and stamp duty land tax. This includes advice to families on re-structuring family company shareholdings to capture business asset disposal relief (formerly entrepreneurs’ relief) and inheritance tax business relief.
- Providing tax and trust structuring advice to a number of partners of a management consultancy business about settling future income rights arising on death into trust and preparing tax efficient Wills.
- Acting for a high net worth client with a young family to assist with his long term succession planning, which included the creation of a series of trust structures to mitigate inheritance tax, preparing tax efficient wills and advising on the creation of “Education Trusts” to take advantage of specific tax exemptions available under the Inheritance Tax Act 1984.
- Providing estate planning advice to a UK domicile client with a non UK domicile spouse, and with complex family circumstances. The advice included Will structuring so as to mitigate inheritance tax, and considering life assurances and pension death benefits as part of a wider strategy for allowing wealth to be passed down to the children of a former marriage.
- Advising on and assisting with the creation of Disabled Persons Trusts.
Career History
Nick joined Wedlake Bell in November 2020.
Prior to that Nick began his career as a trainee at a firm based in Essex, before joining the private client team at Howard Kennedy LLP in 2009.
Nick is a member of the Society of Trust and Estate Practitioners (STEP).
Publications
“A tax break fit for war heroes” The Guardian
“Section 11 provides more relief” FT Adviser
“Tax efficient school fees funding” Citywire