Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
Dealing with shares in a public limited company (plc) when acting as an executor, is relatively straightforward. These types of shares are publicly traded and the value at the date of death can be readily ascertained. However, if the deceased held shares in a private limited company, dealing with these is not entirely straightforward.
If you have separated or divorced or are currently going through a divorce or separation, perhaps the last thing you might think about is updating your Will. However, it is one of the key elements of the separation and divorce process solicitors will advise you to deal with immediately.
Inheritance Tax (IHT) planning is key to ensuring your loved ones keep as much of your estate as possible after you die. There are a variety of ways to mitigate against the effects of IHT and using a Will is just one of them. The simple answer is yes, you can avoid Inheritance Tax with a Will. Below we will look at some of the options available to you. Of course, IHT is only a problem if your estate exceeds £325,000.
When it comes to family businesses, there is an old adage that goes “The first generation makes it, the second generation maintains it and the third generation blows it”. In a family business, there are tensions and expectation not only across the generations but amongst those involved in managing the business and those who are not.
Whilst every family business is different, there are common themes running through them, not least the important of succession planning.
Murray Beith Murray Private Client Partner, Peter Shand appeared in The Scotsman earlier this month, explaining why paintings, prints and porcelain may need as much tax planning as pensions or property portfolios. Read the full article below, republished by kind permission of The Scotsman:
