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17/02/2021

Thursfields Talk Legal: wealth protection for business owners, directors and senior executives

Laura Williams & Ian Bond

The best ways to approach wealth protection for business owners, directors and senior executives will be the focus of a free Thursfields Solicitors’ webinar later this month.

Laura Williams, an associate director in Wealth Protection & Family Law, and Ian Bond, head of Wills & Estates, will host the latest Talk Legal webinar at 11am on Wednesday 24 February.

Laura Williams and Ian Bond will introduce the event live on Zoom, then play a short vidcast explaining two different perspectives on the subject, before returning to the screen to answer any questions.

The session is expected to last no longer than 30 minutes, and business owners, directors and senior executives will leave knowing what to do next when planning wealth protection matters.

Ian said: “Wealth protection can a big issue when things have gone well for married couples, who may have accumulated various assets, properties and perhaps an ongoing, profitable business.

“But what happens when someone dies? How do we pass things down fairly when there’s two or three children?

“Assets and properties might sound simple, but what if the surviving parent or even one of the children and their families live in one of the properties?

“Additionally, where there’s a family business, there may be one sibling who’s become part of that business and wants to keep it going, but other children, or one of them, may want to sell it to inherit their share.

“And what if the children, or one or some of them, disagree with the surviving parent’s wishes, or each other? These are the kinds of questions that I will address in the webinar.”

Laura said that she would look at how to tackle wealth protection where there might be a potential separation, divorce or even plural divorces in the family.

She said: “It’s not uncommon to be dealing with a scenario involving divorced parents and former sons-in-law or daughters-in-law, and potentially their children.

“What happens where a family has been split up like this by divorce, and how can wealth still be protected and inherited properly?

“At Thursfields, we understand that it is often difficult for business owners, directors and senior executives to find the time to put their personal affairs in order.

“I’ll be explaining the steps that people need to take to prevent issues and the importance of pre-planning, including pre-marital and pre-cohabitation agreements.”

The webinar on 24 February will be the 11th in Thursfields’ Talk Legal series which was launched at the start of the COVID-19 lockdown to ensure the company continued its regular free workshops for businesses and the community.

Michelle O’Hara, managing director at Thursfields, said: “While the ongoing lockdown has prevented us from having in-person events for business and the general public, our Talk Legal webinars have seen us continue to provide the same levels of advice.

“We regularly have scores of people joining each event virtually, which mean both existing and new contacts can access our experts’ wide in-depth knowledge.”

People can register for Thursfields’ Talk Legal webinar on wealth protection for business owners, directors and senior executives here: https://www.eventbrite.co.uk/e/thursfields-talk-legal-wealth-protection-for-business-owners-directors-tickets-137408800421

Meanwhile, a full archive of all other Talk Legal episodes can be viewed here: https://www.thursfields.co.uk/talk-legal-videos/  

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