A recent survey amongst specialist professional advisers to family businesses reveal that trusts have fallen out of favour. This webinar will address whether this may be the case, whether trusts do indeed have a valuable place in the advisers’ armoury and what alternatives may be available. 

Following a straw poll amongst specialist professional advisers to family businesses the use of trusts seems to have fallen out of favour. Join expert Howard Hackney, an experienced chartered accountant with a wealth of real life case studies, in this webinar as he addresses why this may be the case, and whether trusts do indeed have a valuable place in the advisers’ armoury.

It is offered at a 20% discount to Private Client Section members.

Howard Hackney

Speaker: Howard Hackney

In particular, Howard will discuss:

  • The issues faced by family businesses seeking to pass wealth down the generations
  • The role of discretionary and immediate post-death interest trusts
  • The key tax rules that apply to trusts
  • The IHT and CGT impact of transferring assets (often shares) into a trust
  • The relevance of distinguishing between a trade and a business 
  • When is business property relief for IHT and hold over relief for CGT available
  • What alternatives may be available – family LLP or limited company

Who should attend?

  • All lawyers with an interest in advising family businesses and their owners and families (eg company commercial, private client and will, trusts and probate)
  • Those advising high net worth individuals
  • Those with significant commercial and residential investments

Speaker

Howard Hackney, partner, Howard Hackney LLP
Howard left Grant Thornton UK LLP in 2008. During his time at Grant Thornton, he was head of family businesses for the UK and head of professional practices for the North West. In 2002 he won the CBI’s national award as ‘Best Business Adviser’. Howard’s current focus is providing special projects advice to family businesses with turnovers up to £30m and professional firms with up to 20 partners. His experience extends from first generation to eighth generation family businesses with all the succession issues that involves.