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Murray Beith Murray is a leading Scottish private client law firm.

For over 170 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.

Peter worked as a corporate lawyer and he now advises on succession/wealth planning in the context of trusts, companies, partnerships, and other corporate vehicles. Peter’s expertise also covers inheritance and capital gains tax advice.

Read more about Peter here.

Business Owners at Risk of not having a Succession Plan

peter

Planning for what will happen to your estate once you are no longer around is never an easy task. Careful considerations must be made as to who you would like to inherit your estate, when you would like them to inherit, and what tax implications inheritance might have. Where a business is owned, it is also important to consider these same points, as failing to plan for succession of a business can have seriously damaging effects on the business and to your family's inheritance. For private, owner-managed, or family-owned businesses, a solid succession plan can drive the growth of the business, reduce taxes, and set the stage for retirement and continued growth of the business for generations to come.

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  223 Hits
223 Hits

Tips for Family Business Owners

peter

Business owners invest a great deal of blood, sweat and tears in building the family business. It’s an environment which often cultivates a “business first” culture.  What is often neglected is the careful planning for the continuity of the business at the key stages in the business lifecycle, including the death or incapacity of the family business owners.  Here are Murray Beith Murray’s tips for taking care of the bigger picture.

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  220 Hits
220 Hits

Family Business can be dysfunctional but they’re the engine room of the economy

peter

Murray Beith Murray Partner, Peter Shand, has written the article below for The Scotsman today (Monday 13 May), which includes a quote from family business specialist Mairi Mickel, Consultant and Founder of Mairi Mickel’s Business Families:

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  520 Hits
520 Hits

Should you have a Scottish or an English Will? Or both?

peter

While many people appreciate the importance of putting in place a Will, many of those who decide to take this step are unaware that the rules governing inheritance are different between Scotland and England. When putting a Will in place, it is therefore necessary to consider whether a Scottish or an English Will is appropriate. This decision can have a significant impact when distributing your estate at a later date.

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  393 Hits
393 Hits

Inherited Isa: What spouses need to know to avoid unnecessary tax

peter

According to David Thorpe of the FT Advisor, it seems a lot of people are missing out on an important tax break when it comes to inheriting a deceased spouse’s Isa accounts:-

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  423 Hits
423 Hits

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