Client Profile
A UK-based entrepreneur with substantial assets in Jersey, London, and elsewhere, including residential property, investment portfolios, and business interests.
Challenge
The client required a comprehensive estate plan that would ensure tax efficiency, asset protection, and smooth succession across multiple jurisdictions. They were particularly concerned about conflicting inheritance laws and potential exposure to double taxation.
Solution
Parslows LLP | Private Client team, in collaboration with a Jersey-based tax adviser, as well as legal and tax professionals in the UK and eslewhere, developed a bespoke estate planning strategy tailored to the client’s international footprint. The solution included:
- Drafting a Jersey Will to govern Jersey movable assets.
- Coordinating with UK and other legal professionals to ensure complementary testamentary instruments.
- Advising on Stamp Duty on Jersey-based assets.
Outcome
The client now benefits from a robust, tax-efficient estate plan that aligns with their personal and financial goals. The client appreciated having a single point of contact in Jersey who could assist with the complexities of international coordination while ensuring Jersey legal considerations were fully addressed.