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Specialism: Lawyers Landed Estates, Tax, Estate Planning
Company: Penningtons Manches
Location: London, England
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2016 Future Leaders Awards
Lawyer of the Year - Associate | Gold
2018 Future Leaders Awards
SILVER - Lawyer of the Year - Partner
Lucy Edwards currently has no Citywealth award
Average client size: Over £25 million
Fixed fee offering: Yes - We can offer fixed fees for certain types of work
Number of offices globally: More than 5
Lucy Edwards currently has no contact details
Lucy Edwards currently has no reviews
Estate planning in light of the newly introduced pension freedoms
Advising longstanding client on estate planning in light of the newly introduced pension freedoms, which involved coordinating their will and trust arrangements for their personal finances alongside their pension nominations which a view to mitigating the overall inheritance tax exposure for their family. This included an assessment of the relative merits of beneficiary nominations for the pension and the continuing role of the trust arrangements as a receptacle for future payments; balancing their tax implications against the flexibility and protective environment offered by the trusts should the beneficiaries face financial difficulties in the future.
Estate planning for an international family relocated to the UK
We act for an international family who have recently relocated to the UK. In conjunction with de-enveloping their UK property from an offshore structure, we worked closely with property colleagues and professional intermediaries to coordinate their move and implement suitable estate planning. This involved an assessment of their tax residence positions, the manner and timing of bringing funds in the UK and making investments, and advising on the impact of the move on their business overseas. We ensured the clients had comprehensive advice on the implications for the management of their finances and property going forward, in the context of their changing lifestyle and business arrangements.
Succession planning and formulating a constitution for a family-owned business
Following the death of the business owner, we developed a family constitution that established rules for a Family Council; established lines of communication between the Company and the family; and agreed guidelines of good personal governance for all generations in terms of Wills, LPAs and pre-nups. The constitution also dealt with exit routes and dispute resolution to deal with the inevitable fall outs as the family increases in size.