Camilla Wallace is a Partner and Head of the Private Client Group at Wedlake Bell. Camilla advises high-net-worth individuals, both UK and non-UK domiciliaries, on estate planning to mitigate the incidence of inheritance tax and control the devolution of estates using lifetime gifts, trusts and tax-efficient wills. She also provides advice to clients on capital gains tax and income tax mitigation strategies as regards lifetime tax planning.
Camilla has experience of both offshore and onshore trust structuring and advising trustees and beneficiaries in relation to the day-to-day management and administration of trusts and estates, including landed estates across England and Wales.
Camilla is a member of the firm’s Offshore, Family Office and India Groups.
Family offices increasingly have to navigate the complexities of cross-border legal issues: a necessary side-effect of globalisation. The family office will consequently need advisers on issues such as tax, estate planning and regulation that covers all countries in the mix, and advice on succession planning is increasingly featuring high up on the family office to-do list.
With the spread of Covid-19 bringing the UK housing market to a standstill and shaking financial markets across the world, families who have lost loved ones leading up to the outbreak of the pandemic, could be seeing some of their assets plummet in value. If inheritance tax has already been paid on those assets on the basis of their higher values in the pre-Covid world, an inheritance tax rebate could be due.
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