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Specialism: Lawyers Tax Non-contentious Trusts Estate Planning
Company: Gateley Plc
Location: London, England
Three words that describe me: getting better, slowly.
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2017 Magic Circle Awards
Wealth Professional Award
2021 Future Leaders Awards
Bronze - Inspirational Individual of the Year
Mark Pearce currently has no Citywealth award
Average client size: £5 million - £25 million
Fixed fee offering: Yes - We offer fixed fees for certain types of work, such as tax reports. The fee will depend on the specific client circumstances.
Number of offices globally: More than 5
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I recently advised on intellectual property structuring for a client coming into the UK having developed highly successful tech algorithms. The work involved dividing existing IP with future IP (and exploitation of current IP) and licencing these to various newly created entities across the globe.
Although the client does not live in the UK, two of his children are UK residents while another child is a US person. The fourth child has an unfortunate history of ill-advised investment decisions and the client wishes to protect his fourth child’s share from potential problems. The client has a pre-existing private trust company, which manages both a ‘family’ trust and a charitable trust. The underlying company within the family trust had to be formed into four new companies, one for each of the family branches. The shares in the new companies were then resettled by the client on bespoke trusts for the four family branches. A protector committee was established to oversee the trusts and to protect the trustees and the beneficiaries. The four companies also had a co-managed investment strategy that needed to take into account UK and US investment restrictions. The protector committee also had to take into account US and UK trust law considerations and consider management and control concerns.
Advising on division of an estate
A client from a Shari'a compliant jurisdiction died leaving assets in several jurisdictions (some of which followed Shari'a law while others were subject to forced heirship). The client had also created a number of lifetime trusts for himself, his wife, their children and charities. We had to work with each member of the family, the trustees and the charities to determine and effect an appropriate division of the estate in accordance with the testator's wishes and the local laws of each jurisdiction.