Reorganisation of family Trusts (primarily concerning land estates)

Reorganisation of six family Trusts (with a combined value of circa ¬£15 million). The Trusts contained a combination of residential property, agricultural land, chattels and cash. The reorganisation involved providing tax advice on the structuring (including income tax, CGT, IHT and SDLT), drafting of trust documentation and advising, liaising with the accountants for the Trusts and liaising with residential property lawyers on the transfers of the residential property/agricultural land in to the hands of the various beneficiaries. The matter had been ongoing for approximately two years and arose from discussions with the primary beneficiaries that they wanted to be able to go their own way with the various Trusts’ assets rather than being bound by the Trusts. However, three of the Trusts were to continue in existence, albeit in a restructured form.