Advice on large inheritance

Alison advised clients who had recently inherited significant wealth. The clients were very uncertain as to why or how they would work with a private client lawyer. They were also very unsure about how to structure their wealth and estate planning over the short and long-term.

Alison told them that her role would be to advise them generally and act for them over the years on both specific and strategic matters. The “emergency items” were Wills and Lasting Powers of Attorney to protect the whole family. She put in place sophisticated Wills designed to protect the family wealth for the next generation and prevent the threats to the children and grand-children of potential family conflict, divorce, other financial claims or simply inheriting “too much, too soon”. Over the months, as their professional relationship has developed and further ideas have been able to be considered, they have moved to several stages of advice and action to implement some of the following: outright gifts and gifts to trust; advice on and establishing a property company to purchase and hold the family‘s desire to build a property business; advice on establishing a family investment company and the early stages of advice on setting up a new charity. Alison now has a strong working relationship with the clients as the refreshingly old fashioned “trusted adviser”.