Expertise

Private Wealth & Tax

We provide bespoke, strategic private wealth & tax advice for high-net-worth individuals and their families, trustees, financial institutions and family offices. Our clients appreciate our expert guidance and forward-thinking strategies for today’s global landscape.

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Ben-Rosen-2-scaled-e1735039661602
Ben Rosen

Partner

Private Wealth & Tax

Key Contact

Private Wealth & Tax

An introduction to Quastels

Quastels’ private wealth team offers expert advice on tax, trusts and succession planning for wealthy individuals and their families. We navigate complexity with confidence, working hard to protect our clients’ wealth while securing their legacy for future generations. We advise UK residents, non-domiciled individuals, trustees, executors and anyone looking to safeguard assets across jurisdictions. We deliver solutions that are technically robust and client-focused. We are experts in complex cross-border structures, offshore trusts, and a variety of asset classes including property and also crypto-assets.

Our partner-led approach ensures that our clients’ wealth is not only protected today but structured in a way that benefits generations to come. We focus on delivering strategic, pragmatic solutions that align with our clients’ ultimate goals. Our team includes members of STEP (TEP), the Law Society’s Tech London Advocates Blockchain Working Group and Citywealth Top 50 FinTech, TMT and AI Lawyers.

Private Wealth & Tax

Our Private Wealth and Tax Services.

Find out more about our expertise

At Quastels we are known for providing excellent and thoughtful guidance for our clients. Our conscientious private wealth specialists have a pragmatic and personable approach.

Estate Planning

We design comprehensive estate planning strategies, including Wills, inheritance tax planning and wealth transfer, ensuring that wealth is preserved and passed down seamlessly to future generations.

Estate Planning

Probate

We expertly advise on the probate process, guiding families through the administration of estates with clarity and compassion, ensuring that complex estates are handled efficiently.

Probate

Mental Capacity

We advise on issues of mental capacity, safeguarding vulnerable family members and ensuring the correct legal protections are in place for asset management and decision-making.

Mental Capacity

Tax for International Clients

For UK resident non-domiciled clients or international families, we provide expert advice on cross-border tax planning, ensuring full compliance while optimising global wealth.

Tax for International Clients

Tax for Domestic Clients

We help UK-based high-net-worth individuals navigate the intricacies of domestic tax law, offering clear, actionable strategies to minimise liabilities while safeguarding assets.

Tax for Domestic Clients

Crypto-Assets

Our team advises on the taxation of crypto-assets and provides expert guidance on how to hold and structure these digital assets within structures, ensuring compliance and security.

Digital Assets & Blockchain

Trusts

We advise on the establishment of trusts tailored to specific needs, providing tax-efficient solutions for wealth preservation and succession planning across multiple generations.

Trusts

Governance

We help ultra-high-net-worth families implement robust governance structures, ensuring smooth succession and responsible management of family assets across generations.

Governance

Cross-Border Structuring

Our expertise in cross-border structuring ensures that wealth is protected and compliant across multiple jurisdictions, helping clients navigate international tax regimes with confidence.

Cross-Border Structuring

Private Wealth & Tax

Our approach

We are known for delivering the same sophisticated service as the largest global firms, but with a distinct difference: a solutions-driven approach that is tailored to the unique needs of high-net-worth individuals. Our guidance is distinctly clear, confident and collaborative, combining expertise with a personal touch.

We understand that private client advice does not work in isolation. Our focus is on long-term relationships, working with several generations to ensure that legacies are not just preserved but enhanced. 

With Quastels, we provide exceptional legal advice and also act as a trusted partner in securing wealth over the years.

Drawing from across our firm, we are able to deliver the very best, complete service, ensuring our clients are protected, guided and supported throughout the process. 

Private Wealth & Tax

Examples of our expertise

Our reputation for exceptional advice and proven track record in all private wealth matters sets us apart from other firms.

Advising a Billionaire Family on Tax and Succession.

We advised the family on leaving the UK and restructuring their business interests for tax efficiency and succession planning. With a focus on the availability of business property relief, we structured valuable assets to be held in trust for future generations, ensuring long-term tax savings and protection.

Trust Structuring for a UK Resident Non-Domiciled Individual.

Our team advised the individual on establishing an international trust structure, preparing a detailed domicile statement, and navigating several complex cross-border tax considerations. We worked alongside other advisers to deliver a seamless and tax-efficient solution.

Creating Family Constitutions for Ultra High-Net-Worth Families.

We advised several families on preparing family constitutions to manage assets across multiple jurisdictions. By aligning family governance structures with business interests, we ensured long-term protection and clear guidelines for future generations.

Pre-Arrival Planning for International Families.

Our team provided strategic advice to families relocating to the UK, including pre-arrival tax planning. We ensured that their global assets were optimally structured to take advantage of the remittance basis of taxation, protecting their wealth while maintaining compliance with UK regulations.

Preparing Global Wills for High-Net-Worth Individuals

We assisted high-net-worth individuals with preparing global Wills, covering assets across several jurisdictions. Our team ensured that each Will was tailored to local laws, providing seamless succession planning that preserved wealth and avoided legal complications.

Advising on Crypto-Assets and Tax Implications

Our expertise in crypto-assets allowed us to advise clients on the tax implications of crypto trading activities. We also drafted trust documents to hold crypto-assets, providing a secure, compliant structure for managing digital investments across generations.

Advising Offshore Trustees on UK Tax Distributions

We advised trustees of an offshore trust on the UK tax implications of distributions to UK-resident beneficiaries. Our team ensured compliance with all relevant tax regulations while maximising the efficiency of trust distributions.

Managing Contentious Trust Issues with Litigation and Tax Advice

Working closely with our litigation team, we advised the trustee of an offshore trust on a range of contentious issues, including UK tax considerations. Our combined legal and tax expertise ensured that the trustee’s obligations were met while mitigating potential risks.

Private Wealth & Tax

The Quastels team

Ben-Rosen-2-scaled-e1735039661602
Ben Rosen

Partner

Private Wealth & Tax

Jack-Burrows-2-scaled-e1737043834785
Jack Burroughs

Senior Associate

Private Wealth & Tax

Eleanor-Catling-2-1-scaled-e1736505102944
Eleanor Catling

Solicitor

Private Wealth & Tax

Michael-Haringman-2-1-e1736502574733
Michael Haringman

Consultant

Commercial Real Estate

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Frequently Asked Questions

What is probate?

Probate is the legal process whereby a deceased individual’s estate is administered.

 

The principal stages during the administration of the estate include:

1. Valuing the assets and liabilities within the estate as at the date of death;

2. Reporting the value of the estate to HMRC and paying inheritance tax (IHT), if required;

3. Applying for the Grant of Probate;

4. Collecting in the estate assets and settling estate liabilities; and

5. Distributing the estate to the beneficiaries.

Valuing assets for probate

The value of assets for probate purposes is the value as at the date of death.

 

When valuing property, it is recommended to obtain a red book valuation of the property as at the date of death.

 

If, however, you are valuing personal possessions such as jewellery, the value included is the market value as at the date of death, not the insurance value. It is also recommended that a professional valuation of any jewellery, or valuable possessions, is obtained.

 

When valuing shares and investments, it is the value of those holdings as at the end of the day on the date of death that is required.

Reporting the value of the estate to HMRC and paying IHT

When the estate must be reported to HMRC, the executors need to complete an IHT return, known as an IHT400.

 

The IHT400 and enclosed schedules will set out the value of the deceased’s assets and any outstanding liabilities.

 

Any applicable IHT reliefs or exemptions will be applied to the gross value of the estate and the IHT due will be calculated and paid to HMRC.  IHT is ordinarily paid in advance of applying for probate subject to the availability of the option to pay by instalments.

Applying for Probate

The executors will make an application to the Probate Registry for a Grant of Probate. If the estate is taxable the executors will not be able to apply for Probate until HMRC have accepted that all IHT has been paid.

 

The Grant of Probate is the document that confirms the individuals who are legally entitled to administer the estate. Once this has been obtained, the executors are able to begin collecting in the estate assets and settling any liabilities.

Collecting the estate assets and settling estate liabilities

The executors will provide a copy of the Grant of Probate to any asset holders and request that the deceased’s assets are sold, liquidated or transferred.

 

Once all assets are collected in, any outstanding liabilities will be settled from the deceased’s estate funds before the estate can be finalised and distributed.

Distributing the estate to the beneficiaries

Before the estate is distributed, the executors must confirm that all of the deceased’s creditors have been located and any debts are settled. The executors must place a newspaper notice to creditors, also allow six months from the estate for any claimant against the estate to come forward.  The executors must also ensure that the deceased’s tax affairs have been finalised, including settling all IHT, income tax and capital gains tax.

 

The residuary estate can only be distributed to the beneficiaries in accordance with the deceased’s Will once the estate has been finalised.

 

It is important to note, that the above stages are based on the assumption that the deceased left a valid Will appointing executors to deal with their estate. If there is not a valid Will, otherwise known as an intestacy, the process to administer the estate will be slightly different.

 

Please contact us if you have any further questions.

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