Sophie Voelcker

Case study 1 – Estate planning for UHNW family

I acted for an UHNW client to create a Family Investment Company (FIC) in which he and his children are shareholders. After a particularly acrimonious divorce, this FIC was a reconciliatory way to show his children (and ex-wife) that he was committed to still being a “family” and also a clever way to involve his children in estate planning. The growth in the FIC will belong to the children and outside of his estate for inheritance tax purposes but funds have started to pass to the next generation in a timely fashion. The children are hugely appreciative and attend annual board meetings along with the client, while he was very pleased with the formation of the FIC and how I was able to support and advise him throughout this sensitive family time.

He has also entered politics at a very high level and is under direct public scrutiny. I therefore considered how the planning looks from every possible angle and factored this into the type of company we incorporated, ensuring confidentiality is paramount.

Case study 2 – Tax, trust and succession advice to cross-border family

I worked with a prominent international family with significant UK trust interests invested through an open-ended investment company (OEIC) and in UK and foreign property.

I acted for three generations of the family on all aspects of private client advice covering extensive succession planning, trust administration and UK tax advice for the family members, trustees and beneficiaries, to include coordinating all foreign legal and tax advice for the family members who are resident outside the UK.

I established a new LLP to hold the large family estate in the UK run as a profitable business in order to preserve inheritance tax reliefs.  I also created a new development company to carry out additional work to the estate to add significant value to the family’s portfolio and arranged three competitive commercial loans for the LLP and trustees in order to refinance the existing structure and provide further working capital to invest in the estate.