Succession & Estate Planning
Succession and Estate Planning for later life (and considering how to pass your assets on to the next generation) is an important task.
Our specialist Holiday & Home Parks team has unique experience in acting for the owners of holiday and home parks and appreciates the sensitivities involved in future proofing your business.
What is Succession & Estate Planning?
Succession & Estate Planning includes a wide spectrum of advice for clients looking to plan for their future including:
- The preparation and updating of Wills
- The creation and management of Lifetime Trusts to ensure the effective transfer of assets from one generation to another
- The creation and registration of Lasting Powers of Attorney (LPAs) to ensure, in the event of a loss of mental capacity, a trusted individual can make decisions about your property and financial affairs, or your health and welfare
- The Administration of a deceased’s estate
Why should I consider Succession & Estate Planning?
As a park owner you have substantial assets and it is important not only to plan effectively for the transfer of those assets to the next generation, but to consider what you would do if you could no longer operate your business.
In the absence of any Succession & Estate Planning there is a risk that your wishes will not be carried out and/or that your Estate may be liable for a larger amount of Inheritance Tax.
In addition there is considerable benefit to advance planning to ensure that the Administration of your Estate after death is as straightforward for your loved ones as possible.
How we can help
Our Holiday & Home Parks team will take time to understand your business and your wishes and will guide you through the process involved, offering practical solutions to meet your needs.
We also work closely with other professionals in the industry who can provide you with detailed financial and tax planning advice to ensure the Inheritance Tax payable on your Estate is minimised as far as is possible.
For more information about our services, to discuss your wishes, or to arrange a home/park visit, please email or call Blacks’ Holiday & Home Parks team today on 0113 207 0000.