Hazlewoods Red Book is a comprehensive report and review of all aspects of your family wealth. The report brings key information together in one place, which can be produced annually or as part of planning from key family events such as, for example, an inheritance.
Importantly, the Red Book is fully flexible to suit your bespoke needs. In particular, the analysis covers details of:
- family members and their advisers;
- trusts and deeds, including beneficiaries and key provisions from the trust deed;
- wills with details of the date signed/reviewed, letter of wishes and executors;
- power of attorneys covering when signed/reviewed;
- life cover by family member;
- lifetime gifting, including transfers into trusts, outright gifts and any reliefs available;
- assets owned by companies and family members, giving you an overarching view on the wealth and diversification of assets;
- analysis of liabilities, such as capital gains tax if assets are sold and the inheritance tax liability of family members.
Tracking movement in family wealth, provides opportunity for mitigating taxes and ensuring key documents are reviewed, which are all crucial elements of making holistic family decisions.
To find out more, please contact your usual Hazlewoods contact or alternatively one of the Family Office team below.