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Personal and family 

Family DNA

Develop a strategy

When it comes to personal and family wealth it is wise to have a strategy to minimise the risk of your assets being whittled away by tax or passing outside the family. Wellers Wealth specialises in tax law and estate planning and legal advice to complement the role of your financial adviser, accountant or legal advisor.

Solving Legacy Issues

Very often clients come to us with a potential tax or ownership problem, based on past advice that may have placed assets in the wrong type of trust structure or perhaps no structure. These types of issue become very real when you reach a tax point or transaction which crystallises a tax charge. We examine your circumstances and objectives to determine how best to prevent your hard-earned wealth from being eroded in this way.

Is your trust the right trust?

Whilst trusts are valuable tools in your armoury to preserve wealth, they do need to be set up in the correct way and provide the right type of protection. Again, if the type of trust structure is wrong then you may be storing up expensive problems for the future. We are specialists in this field of law and will organise the most appropriate and effective trusts for you.

Look after the people you love

You may already have a valid Will that meets the basic requirements of indicating who should benefit from your estate. However, your Will can be a far more strategic tool to identify and mitigate Inheritance Tax so more capital passes to the next generation. You can help protect a home from being lost to pay care fees or ring-fence funds to look after a vulnerable family member and many other valuable options. Please see our Personal Will services.

We will also address Powers of Attorney requirements so that you can appoint appropriate advisers and family members when capacity to make health and welfare or financial decisions is lost.

Is an asset personal or business?

Is it better to set up a business to manage elements of personal wealth? For example a buy-to-let property portfolio or other example. The answer will normally be based on how the different business options will be taxed relative to your personal ownership. We can model likely tax under the relevant scenarios to determine which would be the most efficient.

Would you like to gift assets and or income?

As you may be aware, you have a number of gifting options to reduce a potential Inheritance Tax liability. There are also other ways of passing on assets which can take them outside of your estate which should be considered. Passing on rental income from property or passing on the property itself.

Passing on your assets tax efficiently

Wellers Wealth is able to examine your circumstances in detail to produce a plan to pass on your assets in the most tax efficient way. There are a number of specific services that you may wish to consider including the use of trusts and what to do about property portfolios. 

For tax or trust issues requiring expert advice

Whether it is a matter of personal wealth or structuring business assets and taking income you can talk to Wellers Wealth for practical, actionable legal solutions.

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Whether you are a financial advisor, legal advisor, accountant or a member of the public, tax and trust law may well impact you and open up opportunities and possibly create risks. Our regular technical newsletters explain how existing legislation works and what any changes to it may mean. To keep in the loop, sign up to receive our newsletter.