Asset Finance Management
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Penningtons Solicitors has updated 70 local business contacts and private clients on the latest asset finance management and tax planning issues at a briefing held at The Apollo Hotel, Basingstoke. The event - entitled Planning Ahead in 2005 - provided positive suggestions for developing successful strategies for protecting your assets at a time when many individuals are facing increased financial pressures.
The seminar examined a number of areas of asset finance management that are currently giving rise to particular concern, including the much harder line taken by the Treasury on schemes developed to avoid or minimise inheritance tax and the growing trend for the terms of wills and the actions of executors and trustees to be challenged through the courts.
Cecelia Ward, an associate at Penningtons' Godalming office, illustrated how inheritance tax can still legitimately be avoided by using tried and tested methods in imaginative ways. Michael Cash, a partner at Penningtons' Basingstoke office, described a range of disputes relating to wills that Penningtons has helped resolve during the last year and suggested how these might sensibly be avoided in the future. The briefing was concluded by outlined longer term strategies which business owners should consider in order to protect the wealth they create through asset management.
The event was chaired by Richard Underwood, who heads the private client department at Penningtons' Basingstoke office. Richard said: "Our latest private client seminar has underlined how sizeable savings can be made through successful asset finance management and how measures should be put in place as early as possible. It is important to keep abreast of changes in legislation so that strategies can be modified accordingly."