Ensuring the smooth operation of the family business was a top priority. We had knowledge of the family’s business affairs and were able to advise on the best strategies to maintain business continuity, including the transfer of shares and management responsibilities to D and M.
We prepare the valuations of the family business for Probate and deal with the timely preparation of the management accounts to the date of death. We liaised with Companies House and prepared the necessary documentation needed on the death of a director.
Due to the size of the estate, inheritance tax was a significant concern; we were able to advise on the availability of Business Property Relief and prepare the claims for HMRC. We also assisted the family on the journey of using Trusts for future generations.
With the combined expertise of the probate, valuations, and accounts Crowe teams, the W family were able to navigate the probate process smoothly.
The family business continued to thrive under the leadership of D and M, and the estate was settled efficiently. The use of Trusts and business relief helped reduce the inheritance tax liability, preserving the family's wealth for future generations.