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Specialism: Lawyers Non-contentious Trusts Landed Estates Estate Planning
Company: Preston Legal
Location: St Helier, Jersey
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Average client size: Under £5 million
Fixed fee offering: No
Number of offices globally: 1-5
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Acting as executor to a high value estate
Acting as executor to a high value estate alongside another law firm who dealt with the English estate. The estate held significant share holdings in Jersey which included the necessity to consider UK tax aspects of the estate. Thanks to prior estate planning the Jersey Estate was utilised to settle UK tax liabilities. Value of the deal is £3.5 million (the Jersey estate).
Administering insolvent estate
Administering the high profile estate of a local businessman. The estate, which was insolvent, pursued a cause of action against the former curator (guardian) of the deceased who, it was argued, had been negligent in his management of the deceased’s assets that have been depleted from c.£19m to assets of a nominal value at date of death. A number of court applications have been made and the administration is set against the background of large liabilities and inter-familial conflict.
Advising the family of a deceased HNWI who left a £15m estate and assets in Jersey
Advising the family of a deceased gentleman who died domiciled in a high risk jurisdiction leaving shares in a Jersey company holding substantial London property. The administration of the estate, which was valued at over £15 million has been complicated by divisions in the family (the deceased left three wives all of which had children) which led to a significant delay in the application for the Grant of Letters of administration. During that period the regulatory environment has shifted adding layers of compliance and complication and the UK IHT regime has changed. Further estate planning is being undertaken for the heirs.