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Married v Unmarried: Wills and inheritance claims
February 1, 2023

Everybody with assets should make a will tailored to their circumstances. And ultra-high-net-worth people, especially those with a complicated private life, are no exception. Discover how the Inheritance (Provision for Family and Dependants) Act aims to clear up the validity of a will when the ‘beneficiaries’ are numerous.

Since it was enacted in 1975, the family provision legislation, also known as the Inheritance (Provision for Family and Dependants) Act, has generated a large amount of press coverage. As a result of claims based either on a valid will which, a disappointed ‘beneficiary’ asserts, produces an unreasonable result or on an intestacy (occurring when a person dies without leaving a valid will).

FB Roundup: AP Moller Holding, Selfridges, The Giving Pledge
December 13, 2021

Maersk family expands into healthcare with Unilabs deal, Weston family sells Selfridges to Chirathivat family, Lonely billionaire Bill Gates shares The Giving Pledge with ex-wife Melinda.

Maersk family expands into healthcare with Unilabs deal

The family holding company best known for controlling the Danish shipping giant Maersk is making good on its plans to tackle global challenges head on by acquiring a Covid-19 test maker and diagnostics company.

Family business governance and prenuptial agreements
October 18, 2021

Over the last 20 months, family businesses have experienced unprecedented levels of disruption caused by outside forces. Certainly, Covid-19 has been the leading cause of this turmoil, but a confluence of economic, geopolitical and environmental threats has also caused savvy families to galvanise around resource preservation and the enhancement of family cohesion and reputation.

Over the last 20 months, family businesses have experienced unprecedented levels of disruption caused by outside forces. Certainly, Covid-19 has been the leading cause of this turmoil, but a confluence of economic, geopolitical and environmental threats has also caused savvy families to galvanise around resource preservation and the enhancement of family cohesion and reputation.

The impact on philanthropy and charities when ultra-wealthy divorce
August 17, 2021

Charitable giving is increasingly becoming a keystone in ultra-high net worth family estate planning.  Therefore, in considering how to unwind an estate plan on divorce, thought must be given to how to disentangle the family’s charitable activities.

Charitable giving is increasingly becoming a keystone in ultra-high net worth family estate planning.  Therefore, in considering how to unwind an estate plan on divorce, thought must be given to how to disentangle the family’s charitable activities.

How a philanthropic programme can be bisected such that each party can pursue their own independent path depends significantly on the form of that programme; at its most complex it involves a close investigation of UK charity and trust law to determine the best way to separate the two individuals.

Inheritance Tax: Reliefs, rates and exemptions for families
February 5, 2021

Statistics from the UK government’s tax office show the amount of Inheritance Tax (IHT) families are paying has soared from £2.9 billion ($3.9 billion) in 2011-12 to £5.2 billion ($7.1 billion) in 2019-20—this in part reflects the rise in asset values since 2008, and in particular skyrocketing property prices in London and the south-east of England.

Statistics from the UK government’s tax office show the amount of Inheritance Tax (IHT) families are paying has soared from £2.9 billion ($3.9 billion) in 2011-12 to £5.2 billion ($7.1 billion) in 2019-20—this in part reflects the rise in asset values since 2008, and in particular skyrocketing property prices in London and the south-east of England.

What the UK’s Brexit divorce means for wealthy international couples
December 15, 2020

The United Kingdom left the European Union last year and the transitional period which applies EU law to UK divorces expires on 31 December, 2020 at 23:00 GMT. This expiry will have potentially dramatic changes in international family law which will affect every wealthy family with a European connection.

The United Kingdom left the European Union last year and the transitional period which applies EU law to UK divorces expires on 31 December, 2020 at 23:00 GMT. This expiry will have potentially dramatic changes in international family law which will affect every wealthy family with a European connection.

And there will be profound changes in the way that family law operates within Europe after that date.

FB Roundup: Pre-nups, Billionaires, and "Sudden Wealth Syndrome”
October 31, 2017

Pre-nup popularity increasing to protect wealth; Billionaires return to growth globally; How to avoid “Sudden Wealth Syndrome”

Pre-nup popularity increasing to protect wealth

Pre-nuptial agreements are on the rise among ultra-wealthy individuals and families, especially among people aged under 30 getting married for the first time, a new study finds.

Two-thirds of the 25 English and Welsh law firms surveyed by Forsters’ family team said they had advised their ultra-wealthy and high net worth clients on a greater number of nuptial agreements since 2010.

Modern family: How ‘blended families’ and family businesses mix
April 12, 2017

Living longer thanks to advances in healthcare and technology means family business leaders may marry and have children more than once, with huge repercussions around the kitchen table and the boardroom table. James Beech looks at how ‘blended families’ and family businesses mix

Living longer thanks to advances in healthcare and technology means family business leaders may marry and have children more than once, with huge repercussions around the kitchen table and the boardroom table. James Beech looks at how ‘blended families’ and family businesses mix

Second generations of Trump and Kushner dynasties wed
October 27, 2009

Ivanka Trump, daughter of Donald Trump and executive vice president of the Trump Organisation, married fellow property heir Jared Kushner on Sunday at the Trump Golf Club in New Jersey, US.

Ivanka Trump, daughter of Donald Trump and executive vice president of the Trump Organisation, married fellow property heir Jared Kushner on Sunday at the Trump Golf Club in New Jersey, US.
 
Trump (pictured) and Kushner got engaged in July and married in front of more than 500 guests at one of the many Trump-owned properties in the state.
 

Untying marital ties
February 27, 2009

England’s Privy Council may have missed a trick in failing to rule that pre-nuptial agreements are binding. But for the first time, the courts have recognised that married couples should be entitled to fully regulate their own affairs

One day in early January is always dubbed D-day – the day when feuding couples are most likely to start divorce proceedings. In light of this, the Privy Council of England’s December 2008 ruling that the terms of pre-nuptial agreements are neither binding nor enforceable is not only timely, but could have ramifications for many family offices.

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