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inheritance

May 4, 2017

A survey by insurer Royal London says £400 billion ($515 billion) in private hands is waiting to be passed on and the research also discovered those holding that wealth have different views to those who are (or are not) expecting to receive it, says Jeremy Curtis, partner in the Private Wealth team at Pemberton Greenish.

A survey by insurer Royal London says £400 billion ($515 billion) in private hands is waiting to be passed on and the research also discovered those holding that wealth have different views to those who are (or are not) expecting to receive it, says Jeremy Curtis, partner in the Private Wealth team at Pemberton Greenish.

Generation skipping­–something for a long time heavily taxed in the US–is now in vogue.

February 20, 2017

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

Wilsons, based in London and Salisbury, warned the number of UK estates liable for Inheritance Tax was forecast to rise by 15% to 30,000 in the tax year ending 5 April, 2017, up from 26,000 estates in 2015/16.

August 7, 2015

Generational demographics mean the world is on the cusp of the largest wealth transfer in history. So how prepared do next-generation inheritors feel for this event?

Planning for a smooth succession to the next generation is one of the biggest challenges facing any family of substantial wealth.

There are a host of issues at play, such as how to discuss family wealth with next gens, what education they need to allow them to manage their inheritance, and the relationships between family advisers.

December 17, 2014

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family business illegal and unconstitutional.

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family businesses illegal and unconstitutional.

The Federal Constitutional Court said the law violated the principle of fair taxation as it provides special treatment to some companies.

But family business advocates say the new ruling could unfairly disadvantage firms that are family owned, compared to competitors that don't face inheritance tax bills.

July 23, 2014

Nearly half of affluent Americans are reluctant to talk about inheritance plans with their successors, according to new research, despite the fact avoiding the subject means heirs are almost twice as likely to disagree about inheritance distribution. 

Nearly half of affluent Americans are reluctant to talk about inheritance plans with their successors, according to new research, despite the fact avoiding the subject means heirs are almost twice as likely to disagree about inheritance distribution.

June 9, 2014

Succession at Samsung – South Korea’s largest family-owned conglomerate – could prove costly for the third generation, with analyst estimates putting the potential inheritance tax bill at almost €5 billion.

Succession at Samsung – South Korea’s largest family-owned conglomerate – could prove costly for the third generation, with analyst estimates putting the potential inheritance tax bill at almost €5 billion.

Analysts have been speculating about the future of the company following the hospitalisation of second-generation chairman Lee Kun-hee last month after a heart attack.

November 20, 2013

Mexican billionaire Carlos Slim has quietly been transferring large parts of his family business empire to his six children over the past couple of months, according to media reports.

Mexican billionaire Carlos Slim has quietly been transferring large parts of his family business empire to his six children over the past couple of months, according to media reports.

In the most recent transaction, last month, he reportedly gave two of his daughters the majority of his shares in financial holding company Grupo Financiero Inbursa.

July 22, 2013

One in three UK high net worth families have argued over inheritance and half of the country’s wealthy cannot decide how to split their wealth between heirs, new research reveals.

One in three UK high net worth families have argued over inheritance and half of the country’s wealthy cannot decide how to split their wealth between heirs, new research reveals.

Despite this, more than £1 trillion (€1.2 trillion) is due to pass between generations over the next 20 years.

According to the Coutts report, Breaking the wealth taboo: making succession a success, inheritance planning is becoming increasingly complicated as families become less traditional due to divorce and multiple marriages.

June 20, 2013

An heir of the Astor fortune could be set to swap his Upper East Side apartment for a prison cell today, having exhausted almost all appeals for his conviction of siphoning millions of dollars from his mother, Brooke Astor.

An heir of the Astor fortune could be set to swap his Upper East Side apartment for a prison cell today, having exhausted almost all appeals for his conviction of siphoning millions of dollars from his mother, Brooke Astor.

Anthony Marshall, 89, was convicted in 2009, for elderly abuse. The lawsuit, filed by his son Philip in 2006, alleged Marshall allowed his mother – suffering from Alzheimer’s Disease – to live in squalor, while he enriched himself with income from her estate.

His lawyers are still fighting for a last minute reprieve.

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