For most people, inheritance tax only kicks in when an estate is worth more than £325,000. That figure hasn’t moved since 2009, and it won’t move until at least 2030. With house prices where they are, a growing number of ordinary families are now caught by a tax that was once considered the preserve of the very wealthy.

Until recently, farmers and business owners had a significant advantage. Their qualifying assets could be passed on completely free of inheritance tax, regardless of value. From April 2026, that has changed. There is now a £1 million cap on how much business or agricultural property can be fully sheltered from tax. Anything above that cap is taxed at an effective rate of 20%. For a farming family with land worth several million pounds, this can mean a tax bill of hundreds of thousands of pounds — often with no obvious way to pay it without selling the land itself.

The same month also brought bad news for investors who held shares on AIM, the London stock market for smaller companies. These were popular precisely because they qualified for full inheritance tax relief after just two years of ownership. That relief has now been halved, so what was once effectively an inheritance-tax-free investment now carries a tax charge.

Perhaps the biggest change of all is still on the way.

From April 2027, pension funds will be brought into the calculation of someone’s taxable estate for the first time. For years, leaving wealth inside a pension was one of the most effective ways to pass money to children or grandchildren without inheritance tax. That advantage disappears next year. Anyone who has built up a substantial pension pot needs to rethink how that wealth will be passed on.

The good news is that careful planning can still make a very significant difference. Couples, for instance, each have their own £1 million allowance for business and agricultural property — but only if the assets are owned between them in a way that makes use of both allowances. Reorganising ownership between spouses now, while the opportunity exists, can double the amount protected from tax. Similarly, gifts made more than seven years before death fall outside the estate entirely, which means starting that clock early can be enormously valuable.

For those with pensions, the next 8 months matter. Pension funds passing on death before April 2027 still fall outside the taxable estate under the old rules. It is worth taking advice now on whether it makes sense to draw down some of that wealth during your lifetime and redirect it — whether through gifts, trusts, or other structures — rather than leaving it sitting in a pension that will soon attract a tax charge.

None of this means that inheritance tax planning has become impossible. But it does mean that arrangements put in place before October 2024 may no longer work as intended, and that waiting to review them is a risk in itself. If you have a will, a pension, a business, or agricultural land, now is the time to sit down with a solicitor and look at your position with fresh eyes.

 

This article reflects the law as at August 2026. The pension death benefit changes take effect from 6 April 2027.

 

If you’d like to find out more, please contact our Private Wealth team.

In the article, Matters of the Art: a solicitor’s perspective on estate planning, Arthur Byng Nelson shares his expertise on the legal and practical considerations involved in estate planning for collectors, owners of valuable assets and those who have the good fortune to inherit special items. Drawing on his experience advising clients on the transfer of art, cultural property and heritage assets, Arthur explores the importance of planning ahead to ensure cherished pieces and collections are passed in accordance with a collector’s wishes. He also explores philanthropic opportunities and explains how owners can work with museums to the benefit of all and touches on tax matters specific to “pre-eminent” objects.

The article reflects Arthur’s specialist knowledge of advising clients in estate planning in the context of high-value chattels and considers some of the key issues that collectors and their advisers should keep in mind when planning for the future.

Read Arthur’s full article, Matters of the Art: a solicitor’s perspective on estate planning, in the latest edition of Christie’s Bulletin for Professional Advisers.

 

 

The independent guide, published by Chambers and Partners, ranks the UK’s leading lawyers and law firms following extensive research and interviews with clients and professional peers.

 

Nicole Marmor retains prestigious Band 1 ranking

Head of Private Wealth Nicole Marmor has once again been recognised as a Band 1 lawyer for Private Wealth Law, the highest individual ranking awarded by Chambers.

Nicole has now established herself as one of the leading private wealth advisers in the region, recognised for her technical expertise, client service and ability to advise on complex domestic and international private wealth matters.

Nicole was described by one of her clients as “approachable, efficient and experienced”.

 

Private Wealth team recognised once again

Sherrards’ Private Wealth team has retained its Band 2 ranking, reflecting the depth of expertise across the department and its continued commitment to delivering exceptional advice to individuals, families and business owners.

The team is recognised for advising on estate planning, succession, trusts, tax planning, probate, Court of Protection matters and international private wealth issues.

 

Arthur Byng Nelson recognised in Chambers for the first time

Sherrards is also proud to celebrate Arthur Byng Nelson’s first individual ranking in the Chambers High Net Worth Guide.

Arthur has been recognised as a Band 3 lawyer in the UK-wide Art & Cultural Property rankings, acknowledging his reputation for advising collectors, galleries, museums, family offices and international clients on complex art and heritage matters.

The ranking reflects the continued growth of Sherrards’ specialist Art & Heritage offering and Arthur’s expertise in this highly specialised area of law.

Chambers researchers also received excellent feedback from Arthur’s clients during the research process, with one commenting “Arthur Byng Nelson is a very clear and concise lawyer who has a passion for art and is a trusted source of advice”.

 

These latest rankings reinforce Sherrards’ commitment to delivering exceptional legal advice across private wealth, trusts and estates, and specialist art and heritage matters. Independent recognition from Chambers reflects the expertise of our lawyers and, most importantly, the trust our clients continue to place in us.

We would like to thank our clients and professional contacts who participated in the Chambers research process. Their feedback is invaluable, and we congratulate Nicole, Arthur and the entire Private Wealth team on this well-deserved recognition.

If the answer is “a few years ago”, or worse, “I can’t quite remember” then you’re not alone. Once a Will has been executed and filed away, it’s easy to assume the job is done. But a Will is not a one-off task, it’s a document that should keep pace with your life. When it doesn’t, the consequences for your family can be significant – financially, practically and emotionally.

Here’s why we recommend every client reviews their Will at least every five years, and why now might be exactly the right time to act.

 

Your Family Has Probably Changed

Life moves fast. Since you last updated your Will, you may have married, divorced, remarried, welcomed children or grandchildren, or lost someone close. Each of these events can have a profound effect on whether your Will still achieves what you initially intended.

In England and Wales, marriage automatically revokes a Will. If you married after signing your last Will and haven’t updated it since, your Will may no longer be valid at all. This means your Estate could pass under the rules of intestacy rather than according to your wishes.

Divorce, on the other hand, treats your former spouse as having died in your lifetime. If your former spouse is mentioned in your Will then they would be removed as a beneficiary and executor, but your divorce does not revoke your Will entirely. That can leave significant gaps and if you have cohabiting partners or stepchildren you want to provide for, they have no automatic rights under intestacy. This can cause further problems because if they are not specifically provided for in your Will then it’s likely that they will receive nothing from your Estate.

 

The Tax Landscape Has Shifted

Inheritance tax planning is not something you can set and forget. The rules change, thresholds move, and reliefs that once applied may no longer do so, or may have become more valuable.

The Autumn 2024 Budget introduced significant changes to agricultural property relief and business property relief, with reforms taking effect from April 2026. For clients with farming interests or business assets, a Will drafted before these announcements may need to be revisited urgently.

A well-structured Will with the right use of trusts, nil-rate band planning, and carefully drafted gifts can make a very real difference to the amount of tax your Estate pays. An outdated one can cost your family tens or even hundreds of thousands of pounds unnecessarily.

 

Pensions Are Now Being Brought into Inheritance Tax

This is one of the most significant changes in recent memory, and many families are simply not aware of it yet. From April 2027, most unused pension funds and death benefits will be brought within the scope of inheritance tax for the first time. For decades, pensions have been a powerful tool for passing wealth down the generations free of IHT – that advantage is now set to disappear.

If your Estate planning has been structured around leaving your pension intact for your beneficiaries, your existing arrangements may no longer achieve what you intended. It is worth reviewing not only your Will, but your pension nominations, any letter of wishes, and the overall balance of your Estate to make sure your wealth still reaches the right people in the most tax-efficient way possible. The sooner you act, the more options you are likely to have.

 

The End of Non-Domicile Status – What It Means for You

From April 2025, the long-standing non-domicile regime has been replaced by a new residence-based system for determining your exposure to UK tax, including inheritance tax. Previously, individuals who were not domiciled in the UK could shelter overseas assets from UK IHT indefinitely. Under the new rules, long-term UK residents – broadly, those who have lived in the UK for ten or more years, will find their worldwide assets brought within the scope of UK inheritance tax, regardless of where those assets are held or where they were born.

For internationally connected families, this is a fundamental shift. Wills, trusts, and Estate structures that were carefully designed under the old regime may now be significantly less effective or, in some cases, counterproductive. If you or your family have overseas assets, connections to other jurisdictions, or have recently changed your residence arrangements, an urgent review of your estate planning is strongly recommended.

 

Your Assets Are Not the Same as They Were

Think about what you owned when you last made your Will and compare it to today. New property, a business interest, an inherited sum, a pension, investments, or even digital assets? All of these may not be captured properly in an older Will.

Some assets, like jointly owned property or bank accounts, may pass outside your Estate entirely, regardless of what your Will says. If your Will hasn’t been reviewed with your full current asset picture in mind, there’s a real risk that things end up in the wrong hands, or that the overall plan simply doesn’t work as intended.

 

Your Executors May No Longer Be the Right Choice

The people you named as Executors and Trustees when you first made your Will may have moved on, fallen out of touch, lost capacity, or sadly passed away. A Will with no living, willing Executor creates real problems at the point of administration.

The same applies to guardians named for minor children. Circumstances change. It’s worth asking honestly: are the people named in your Will still the right people for the job?

 

An Outdated Will Can Cause Real Harm

The cost of an outdated will isn’t just financial, though that can be substantial. An ambiguous or unfair Will is one of the most common triggers for family disputes and contested Estate claims. Proceedings under the Inheritance (Provision for Family and Dependants) Act 1975 are costly, slow, and deeply distressing for everyone involved.

Probate delays, executor disputes, and unclear drafting can add months and significant legal fees to the administration of an Estate, at exactly the time when your family needs matters to be straightforward.

A clear, current, well-drafted Will is one of the most valuable gifts you can leave the people you love.

 

So, What Should You Do?

The good news is that reviewing your Will doesn’t have to be complicated. In many cases, a short conversation is all it takes to identify whether your existing arrangements still work or whether some targeted updates are needed.

We’d encourage you to ask yourself:

 

• Has my family situation changed since I last updated my Will?
• Have my assets, or their value, changed significantly?
• Are my Executors and Trustees still the right people?
• Have I recently married, divorced, or entered a new relationship?
• Have I recently had children or welcomed grandchildren into the family?
• Do I have a pension that forms part of my Estate planning?
• Do I have overseas assets, or has my residence or domicile position changed?
• Has it simply been more than five years since I last reviewed my Will?

If the answer to any of those questions is yes, it’s time for a review.

 

Get in Touch

We work with families and individuals at every stage of life to make sure their Estate planning reflects their wishes, protects their wealth and is as tax-efficient as possible.

The changes that have recently come into force regarding business relief, agricultural relief and to the non-dom regime, coupled with the changes coming into effect from April 2027 regarding pensions, means that the next nine months represent a particularly important window to act. Those who review their arrangements now will be far better placed than those who wait.

If you’d like to discuss your Will and wider Estate planning arrangements, we’d love to hear from you. Getting in touch is the first step – it’s often easier than you think.

Contact our Private Wealth team today to arrange a conversation. Whether you’re starting from scratch, making updates, or simply want peace of mind that everything is in order, we’re here to help.

To read part 1, click here. 

Tax: The Key Structural Considerations

Capital Gains Tax

An individual higher or additional rate taxpayer pays CGT at 24% on a gain from the sale (or gift to another person) of a work of art; a basic rate taxpayer pays 18%. Using as an example a gain of £300,000, a higher rate individual taxpayer retains approximately £228,000.

Alternatively within a SPV the same gain realised attracts corporation tax at 25%, with the proceeds then held in the company. Extracting them by dividend costs a higher rate taxpayer a further 33.75% on amounts above the £500 dividend allowance. The combined effective rate lands somewhere between 45% and 50% of the original gain: roughly double the personal CGT cost. On the same £300,000 gain, the shareholder may retain only £150,000 to £160,000. Unless the SPV is delivering inheritance planning benefits that outweigh that difference, it is difficult to justify establishing a SPV for a single acquisition.

Inheritance Tax

The inheritance tax picture however runs in the opposite direction and is where the SPV proves more interesting for consideration.

Works of art owned personally will attract IHT at 40% on death with no automatic relief, and the art market’s illiquidity makes this particularly uncomfortable: executors have six months to settle the charge and a forced timetable for sale of a significant work is less likely to achieve best results.

Compare this to the position where a SPV has been used: shares in the SPV can be gifted in tranches during the owner’s lifetime, settled on a discretionary trust or structured with different share classes to direct capital to different beneficiaries. A physical painting cannot be divided or transferred in stages without a sale. Each gift of shares is a potentially exempt transfer that falls outside the estate entirely if the donor survives seven years and does not retain benefit from the asset: a meaningful planning tool for a buyer with a long horizon. Business Property Relief could in principle shelter the shares from IHT entirely, but only where the SPV is genuinely trading rather than passively holding an asset; HMRC scrutinises this characterisation closely in the art market context and the relief should not be assumed.

Summary

For a one-off acquisition of a single work at modest value, direct personal ownership will generally be simpler and more tax-efficient on exit. An SPV becomes more attractive where: (i) provenance risk is elevated; (ii) multiple investors are involved; (iii) a portfolio of works is being assembled with trading intent; or (iv) long-term IHT planning is a priority. In every case the structure should be determined in advance of acquisition. Plan ahead and be ready before the sleeper wakes up!

To find out more contact Arthur Byng Nelson, or the Private Wealth team. 

This article is for general information only and does not constitute legal or tax advice. Specialist advice should be taken before any acquisition or structuring decision.

 

In this context I have been asked to advise: should I be buying my sleeper in my personal name or through a limited company?

The answer will be informed by:

• Is this likely to be a one-off adventure?
• Are you buying alone or with co-investors?
• How significant are the possible values in this or future cases?
• What is your intended destination for the piece?
• Is estate planning relevant?

The case for a limited company (SPV)

1. Liability ring-fencing. The SPV isolates the art asset from the investor’s personal and other business liabilities.
2. Facilitation of co-investment. Where the hunt is a collaborative venture, an SPV provides a clean vehicle through which multiple investors can hold fractional economic interests via shares or loan notes, avoiding the complexity and personal exposure of a co-ownership arrangement.
3. Efficient exit mechanics. A share sale rather than by sale of the work itself can be advantageous to both parties: the seller may achieve a cleaner exit without triggering a direct disposal of the asset, and a sophisticated buyer might avoid VAT that applies to imports and the administrative burden of transferring title to a physical object across jurisdictions.
4. Estate and succession planning. Where estate planning is relevant, shares in an SPV can be transferred or gifted with greater flexibility than the artwork itself. Business Property Relief might be available but in very limited circumstances and only if the SPV could be characterised as carrying on a trade.
5. Structural clarity for financing. If the successful hunter subsequently seeks to borrow against the work, lenders might prefer to lend to a SPV, with a more transparent legal and financial history.
6. Scalability. If this is not a one-off adventure, the SPV structure can accommodate future acquisitions within the same limited company, simplifying accounting and investor reporting.

Arguments against an SPV

1. Disproportionate cost for a one-off. If this is likely to be a single acquisition, incorporation, on-going Companies House filings, annual accounts and eventual dissolution costs may be disproportionate to the commercial benefit.
2. Corporate tax rates on gains. A company pays Corporation Tax on gains (currently 25% for profits over £250,000) rather than the individual CGT rate (currently 24% for higher and additional rate taxpayers, 18% for basic rate taxpayers).
3. No personal CGT reliefs. The reliefs available personally to an individual investor are not available at the corporate level.
4. Double taxation on extraction. Profits realised within the SPV require a further taxable event (dividend, salary or liquidation distribution) to reach the beneficial owner, creating a double-tax dynamic that erodes net profit.
5. Intended destination of the piece. Where the investor intends to donate the work to a public institution personal ownership is generally more advantageous.

In Part 2, Arthur Byng Nelson will provide more detail on the comparative Capital Gains Tax and Inheritance Tax considerations.

 

This article is for general information only and does not constitute legal or tax advice. Specialist advice should be taken before any acquisition or structuring decision.

Contractual Terms and Liability Limits

The starting point is the storage contract. Most storage agreements are drafted heavily in favour of the operator and typically include strict limitations on liability. Standard clauses often provide that the operator is not responsible for loss or damage caused by theft, vermin, water ingress, fire, or even the operator’s own negligence. For high‑value art, this can be problematic. Collectors should scrutinise these clauses closely and negotiate amendments where possible, or at least understand the extent to which they may be assuming the risk themselves.

 

Insurance Requirements

Insurance is another critical legal element. Many storage facilities require customers to maintain their own insurance and the storage contract may explicitly state that the operator provides no cover. Even where insurance is provided, it may be subject to low limits or broad exclusions.

Specialist art insurance, covering accidental damage, changes in climate conditions, or professional handling, is preferable.

 

Environmental and Security Standards

From a legal standpoint the storage operator generally makes no guarantee that the unit is suitable for storing sensitive items such as art. Fine art is highly vulnerable to humidity fluctuations, temperature changes, mould and poor air quality. Unless the contract expressly states that the facility provides climate control or enhanced security measures, the operator may not be legally accountable if artwork deteriorates or is stolen. As a result agreements should be reviewed to confirm what environmental and security standards the operator is contractually obliged to provide and what remains the customer’s responsibility.

 

Title, Provenance and Access Rights

Owners must ensure that their legal title to the works is clear before placing artwork into storage. Disputes can arise if multiple parties later claim ownership or if the artwork becomes subject to a freezing order, lien or security interest. Additionally, storage contracts often restrict who can access the unit, so authorised persons should be clearly identified to avoid disputes or unauthorised entry.

 

Sale of Artwork in Storage to a Third Party

A further consideration arises where an owner sells artwork whilst it remains in storage. A change of ownership does not automatically alter the legal relationship between the original depositor and the storage operator: the incoming buyer acquires no contractual relationship with the facility and no automatic right of access.

To regularise the position the parties should notify the operator promptly in writing and arrange for the storage contract to be novated or assigned to the buyer (or indeed terminated), subject to the operator’s consent. Authorised access rights should be updated accordingly.

Under the Sale of Goods Act 1979 risk ordinarily passes with property unless the parties agree otherwise and delivery may be effected constructively by transferring control of the means of access (such as keys or access codes) without physically moving the work. However, physical delivery is preferable where practicable to avoid later dispute.

Buyers should also be aware that if the seller has outstanding storage fees at the point of sale, the operator may hold a possessory lien over the goods, potentially preventing recovery of the work until that debt is discharged. Due diligence on any sums owing to the facility should therefore form part of the buyer’s pre-completion enquiries. Finally both parties should ensure that there is no gap in specialist insurance cover between the seller’s policy lapsing and the buyer’s cover biting, as risk will have passed in the interim.

 

Disposal of Goods: Compliance with the Torts (Interference with Goods) Act 1977

A further legal issue arises if the storage facility considers disposing of items left in a unit, for instance due to unpaid fees. In the UK operators must comply with the Torts (Interference with Goods) Act 1977. This legislation requires the facility to take reasonable steps to notify the owner, giving them an opportunity to reclaim their goods. Typically a notice must be served specifying the owner’s obligations, the amount owed and a reasonable timeframe after which the goods may be sold or disposed of. Failure to follow the statutory procedure can expose the facility to liability for wrongful interference or conversion.

 

Conclusion

Storing high‑value art in a storage facility involves far more than simply renting a unit. The legal framework governing liability, insurance, environmental conditions, disposal rights and access can significantly affect the safety and preservation of valuable works. Careful review of contractual terms, appropriate specialist insurance and due diligence on facility standards are essential steps to protect both the art and the owner’s legal position.

To find out more please contact Arthur Byng Nelson here, or Aaron Heslop here. 

You do not need to be ultra wealthy for an FIC to be useful. FICs are now widely used by families to protect and manage a broad range of assets, from investment portfolios and cash savings, to buy-to-let properties.

In this article, we explain what a family investment company is, why it might be worth considering as part of your long-term financial planning and how our firm can assist you to set up your FIC.

 

What Is a Family Investment Company “FIC”?

A family investment company is simply a private limited company, incorporated at Companies House, that is used by a family to hold and manage investments. It is not company with a special legal status. Rather, it is an ordinary company, but one that is set up and structured with a  family’s wealth objectives and continuity in mind.

Typically, the founders (usually the parents or grandparents, but not always) subscribe for shares in the company and then transfer cash or other assets into it. The company uses those assets to invest, for example, in shares or property. The key feature is the share structure of an FIC, which is carefully designed so that the founders retain control of the company while gradually passing the economic value of the investments to the next generation.

 

How Does it Work?

The flexibility of an FIC lies in its ability to issue different classes of shares, each carrying different rights. A common FIC arrangement might look like this:

• Voting shares are held by the founders (again, usually the parents or grandparents), giving them full control over the company’s decisions, including how profits are distributed and how investments are managed.
• Growth shares are issued to children or grandchildren. These shares carry the right to receive dividends and to benefit from any increase in the value of the company’s assets, but they carry no voting rights meaning the holders have no control over the company’s decision making.

This means the founders can retain a firm hand on the assets put into the FIC while ensuring that, over time, wealth passes down to the younger generations in a structured and controlled way.

 

5 Key Benefits of Using a Family Investment Company for Wealth Planning

Control Over Family Wealth

One of the most compelling advantages of an FIC is the degree of control it offers. Unlike an outright gift (where once you give money away, you have no say in how it is used) an FIC allows the founders to decide when and how much wealth is distributed to family members. Dividends can be declared selectively, at different rates, to different shareholders, and at different times. This is particularly useful where the founders are not yet confident that younger family members are ready to manage significant sums.

 

Inheritance Tax Planning

An FIC can be a highly effective tool for inheritance tax (IHT) planning. When the founders transfer assets into the company and the growth in value accrues to the next generation’s shares, that growth falls outside the founders’ estates for IHT purposes.

If the founders transfer cash or assets into the company by way of subscribing for shares at par value and the growth shares are issued to the children at the outset, then the future increase in the company’s value belongs to the children and not the founders. Over time, this can significantly reduce the founders’ taxable estates.

It is important to note that the initial transfer of value may be treated as a chargeable lifetime transfer for IHT purposes, and the founders will need to survive for seven years for the transfer to fall out of their estates entirely. Careful structuring and professional advice at the outset are essential.

 

Income Tax Efficiency

Investments held within a company such as an FIC are subject to current corporation tax rates on their returns, rather than income tax. The current rate of corporation tax (25% for profits over £250,000, with a small profits rate of 19%) can compare favourably with the higher and additional rates of income tax (40% and 45%) that individuals might otherwise pay on the same investment income.

Profits retained within the FIC can be reinvested without any further tax charge, allowing the investment pot to grow more efficiently over time. Dividends are only taxed in the hands of individual shareholders when they are actually paid out, and this gives the family more flexibility to manage the timing and amount of any personal tax liabilities.

 

Asset Protection

Because the assets sit within a company, and are not held by the founders personally, they are afforded a degree of protection from personal claims. The corporate structure can in some circumstances provide a useful layer of separation between family wealth and the personal affairs of individual family members, including in the event of divorce or bankruptcy.

 

Succession Planning

An FIC provides a natural framework for succession planning. Shares can be transferred, gifted, or issued to the next generation over time, and the articles of association, which govern the FIC can include provisions that restrict the transfer of shares to people outside of the family. This helps to ensure that wealth remains within the family across multiple generations.

 

Are There Any Drawbacks to a Family Investment Company?

As with any planning structure, an FIC is not without its complexities. There are set-up costs, ongoing filing obligations at Companies House and with HMRC, and the company’s accounts will be publicly available on the register (although this may be avoided, in some cases, where an unlimited liability company is used – but that has drawbacks of its own).

HMRC is well aware of the potential for FICs to be used as vehicles for tax avoidance. The settlements legislation, the Transfer of Assets Abroad rules, and the close company provisions can all apply in certain circumstances. It is crucial that any FIC structure is established on proper advice and for genuine commercial and family reasons, not solely to avoid tax.

An FIC is not a one-size-fits-all solution, and it is not appropriate in every case. The benefits depend on your personal circumstances, the size and nature of your assets, and your long-term objectives.

 

How We Can Help

At Sherrards, our Corporate and Private Wealth teams work together to advise families on the establishment and ongoing management of family investment companies.

Our Private Wealth team works closely with clients and their financial advisers to understand the family’s broader wealth planning objectives, including estate planning, succession, and inheritance tax considerations. The Private Wealth team is well placed to advise on the gifting of shares, the interaction with wills and existing trust arrangements, and the wider implications for the family’s overall estate plan.

Once the blueprint for the FIC has been designed, typically by the client’s tax adviser in conjunction with our Private Wealth team, our Corporate team steps in to build it. We are, in that sense, the builders rather than the architects. Our Corporate lawyers draft the bespoke articles of association, establish the appropriate share classes, prepare shareholders’ agreements, and handle the incorporation and all necessary filings. We ensure that the legal documentation accurately and robustly reflects the structure that has been designed, and that it is fit for purpose both now and as the family’s circumstances evolve.

 

If you would like to explore whether a Family Investment Company could work for you, please do not hesitate to get in touch with our team for an initial conversation.

Without this legal authority, banks, pension providers, and other organisations may refuse to deal with family members, making it difficult to pay bills or manage property.

The Two Types of Court of Protection Orders: Finance & Welfare

There are two main types of Deputyship Orders. The most common is Property and Financial Affairs Deputyship, which allows the deputy to manage money, pay bills, collect benefits or pensions, and deal with property or savings.

The second type is Personal Welfare Deputyship, which relates to decisions about medical treatment, care arrangements, and where the person lives. These orders are rare and are only granted when there is an ongoing need for formal authority over welfare decisions.

Who Can Become a Deputy and What Are Their Duties

A deputy is usually a close family member or friend, but it can also be a solicitor or professional deputy if there is no suitable relative. The court will only appoint someone who is over 18 and considered capable of acting responsibly and honestly.

Deputies are supervised by the Office of the Public Guardian. They must keep clear records of spending, keep the person’s money separate from their own, and submit annual reports. Deputies must avoid conflicts of interest and ensure all decisions are made in the best interests of the person who lacks capacity and follow the principles of the Mental Capacity Act.

How Long Does it Take to Get a Deputyship Order? (Costs & Timeline)

Applying for a Deputyship Order usually takes between four and six months, although complex cases can take longer. There is a court application fee, along with possible medical assessment costs and an annual supervision fee. In some cases, a security bond is also required. Fee reductions may be available if the person has a low income or limited savings.

Deputyship vs. (ignore this can stay)  Lasting Power of Attorney (LPA): Why Planning Ahead Matters

Unlike a Power of Attorney, which is made while someone still has mental capacity, a Deputyship Order is applied for after capacity has been lost. It is generally more expensive and time-consuming because the court must decide who should act and what authority they should have. 

Therefore, due to these issues if a person still has mental capacity, they should get a Lasting Power of Attorney in place, without delay.   

Conclusion

A Deputyship Order provides an essential legal solution when someone can no longer manage their own affairs and has not planned ahead. Although the process can be slow and costly, it ensures that vulnerable people are protected and that their finances and welfare are handled lawfully and in their best interests.

How We Can Help at Sherrards

Depending on your circumstances, or those of a loved one, we would encourage you to contact our Private Wealth Team at Sherrards to find out more about Deputyship applications or Lasting Powers of Attorney. 

Passing Wealth to the Next Generation

With more expertise on the ground in St Albans, we are ideally placed to guide families and business owners through the complexities of passing wealth on to the next generation. Our team can offer tailored strategies for family governance, inheritance tax planning, and succession, delivered with local understanding and sensitivity.

Commitment to Our Community

By investing in St Albans, we reaffirm our commitment to clients in Hertfordshire and the surround area, offering the quality and expertise you would expect in London, but with the approachability and continuity of a trusted local adviser.

Our Private Wealth team is known for its approachable and practical style, setting the tone for how we work with clients. The team continues to be recognised in top legal directories including The Legal 500 and Chambers High Net-Worth Guide, reflecting our ongoing commitment to client care and expertise.

Meet the Team

Nicole Marmor — Partner & Head of Private Wealth

Nicole leads our Private Wealth team, advising UK and international clients, particularly those with interests in France, Germany, Spain, the US, and India. She specialises in Inheritance Tax, Estate Planning, cross-border estates, and Court of Protection matters. Nicole is a full STEP member and consistently ranked in Chambers, Spears, and The Legal 500.

Jacki Hockin — Legal Director

Jacki is well known in the St Albans area, where she was born and bred. With many years of experience, Jacki has long been a trusted adviser in the local community. A full STEP member, she supports clients with all aspects of wills, trusts and probate, guiding them with care and clarity. Her calm, down to earth approach makes even the most complicated issues feel manageable.

David Mulholland (TEP) — Legal Director

David’s broad expertise strengthens Sherrards’ core private client services. He advises on wills, lasting powers of attorney, estate administration, tax, and trust structures, providing pragmatic, tailored solutions that reflect each client’s unique circumstances. A full member of STEP, David’s internationally recognised credentials underpin deep technical knowledge and a trusted, client‑centred advisory style.

Rebecca Napier — Associate

Rebecca offers clear and thoughtful support across wills, powers of attorney, trusts and probate matters. Rebecca prioritises one‑to‑one engagement, taking time to understand clients’ personal situations and offering straightforward advice that helps them plan effectively for the future and manage transitions with confidence. Her approachable manner and commitment to long‑standing client relationships are real assets to the St Albans team.

Our St Albans team are focused on helping clients protect their assets, plan for the future, and navigate all aspects of family wealth with confidence.

Support from London — Specialist Skills That Enhance the Team

Our clients in St Albans also benefit from the expertise of our London office. Arthur Byng Nelson leads our Art and Heritage law services, providing specialist advice for those who own art collections or heritage property. His experience covers every aspect of protecting and managing cultural or historic assets.

Francesca Rossi leads Sherrards’ Italian Desk, supporting clients who have interests in both the UK and Italy. Francesca is fluent in both English and Italian law and is especially helpful to families managing cross-border estates and assets.

Supporting our London team is Solicitor Abroo Khan.

The expansion of our Private Wealth team reflects Sherrards’ ongoing commitment to the St Albans community. We are proud to offer a broader and deeper level of support, delivered with the warmth, clarity, and straight-talking service our clients know and trust.

If you would like to speak to a member of the team, discuss your own plans or learn more about our services, please contact our St Albans office on 01727 832830 or email law@sherrards.com.

About Sherrards 

Sherrards is a law firm made up of talented lawyers and an excellent wider team that keeps the whole place running smoothly. Our philosophy is to keep things straightforward. Advice is pragmatic and cases are handled with little fuss. We find this refreshingly obvious approach attracts clients tired of people making things more complicated than they need to be.