Estate planning and domicile advice for a non-UK resident high-net worth couple

Date of Case: 2019
Key Issue(s):

The clients had recently moved to Australia and wanted to prepare Wills and Lasting Powers of Attorney for their UK assets and also required advice on their domicile.

What We Did:

Toni prepared UK Wills to deal with their UK assets and provided advice on the UK Inheritance Tax position of their estates as part of a more detailed domicile opinion. Toni also prepared Property and Finances Lasting Powers of Attorney.

Scope of Work:

High-net worth individuals – estate and tax planning

Case Details:

The clients had recently moved to Australia after spending a significant amount of time living in the UK.  The clients required a detailed opinion on their domicile following the move which dealt with the acquisition of a domicile of choice for one client and the revival of a domicile or origin for the other.  The clients requested the domicile opinion to ensure that, should their domicile ever be queried by the tax authorities in the UK or Australia, they would have a legal opinion to rely on. The clients also needed advice on the implications of the deemed domicile rules in the UK.

Toni prepared UK Wills to deal with the assets they have here and also prepared Property and Finances Lasting Powers of Attorney to enable their chosen attorneys to manage their UK property in the event they no longer have the mental capacity to do this themselves.

Process:

After an initial meeting Toni prepared UK Wills and the Lasting Powers of Attorney followed by the domicile opinion. Toni also provided the relevant Inheritance Tax advice in relation to their UK and worldwide assets.

Outcome:

The clients have UK Wills and Lasting Powers of Attorney to deal with their UK assets and have a detailed opinion on their domicile should this be queried by the tax authorities in the UK or Australia.

Senior Partner

Partner

Partner - Head of Wealth Planning

Associate

Solicitor

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