In an article in The Telegraph exploring the best vehicles for wealth planning, Head of the Private Client Department James Cohen commented on the notable rise of Family Investment Companies – or FICs – which have become “the go-to for those looking to pass on wealth efficiently”.
FICs are increasingly being used as an alternative to trusts for inheritance tax planning. They allow families to pool assets, retain control through company voting rights and pass future growth to children without the same transfer limits that apply to trusts.
As The Telegraph explains, there is no cap on the amount of wealth that can be transferred via FIC shares.
To read more, you can view the full article here.