Jobs
UK Private Client Law
Private client lawyers work with individuals and families, providing legal advice on a variety of matters such as investments, taxation, estate management, wills and testamentary issues. Private clients are usually very rich and high net worth individuals or landowners who hold massive amounts of properties and other assets. Private client lawyers also tend to deal with charities too. These might be small, not-for-profit associations or fully-fledged organisations that are run like a business and have immense budgets.
The main objective of a private client lawyer is to provide advice which will help preserve, build and maintain wealth and establish trusts. They will also offer prudent guidance on matters, such as inheritance tax and capital gains tax.
Why is it important? What does it involve?
The workload of a typical private client lawyer might be comprised of drafting wills, executing the terms of the will in the instance of death, and the subsequent disbursement of properties and assets. You will also help clients to look after and grow their wealth, locally or internationally. As such, private client lawyers will also be required to apply tax law in many cases. Most firms will have separate departments where private client and charity work is handled.
Private client lawyers working for charitable bodies will provide legal services for registration, restructuring, creating charters or trust deeds, compliance with statutory and local authorities and regular management and disbursement of funds, which have been received or earned for charitable endeavours. Other activities will include providing investment advice, helping to set up offshore trusts, drafting contracts and business proposals and handling sponsorships.
Private client practice is an ever-burgeoning field. Immense advances in several emerging markets have created a fresh breed of millionaires and billionaires across the globe. Consequently, lawyers in this area have their hands full with plenty of work, and there’s more to come in the future. There is also an increasing demand for lawyers specialising in private client and charity practice.
Break it down for me a little bit!
Private client lawyers must have excellent people management skills. They will need to handle communications, discussions and negotiations articulately and efficiently. A comprehensive knowledge of the law and commercial matters when dealing with taxation, inheritance, investments and trusts is essential.
They must have a particular aptitude for wading through tons of rules and regulations and be able to structure matters in a manner that is most beneficial to their client; saving on costs, whilst still being compliant with the law.
It’s advantageous for private client lawyers to have a good understanding of the foreign markets where clients hold their assets and funds. They may also need to interact and coordinate with people abroad and deal with organisations that operate offshore or in overseas tax havens.
These careers could involve some degree of international travel. However, there will also be long hours and, as always, an ungodly amount of documentation to get through.
Coventry (/ˈkɒvəntri/ (About this soundlisten) KOV-ən-tree[4] or /ˈkʌv-/ KUV-)[5] is a city, administrative centre and metropolitan borough in England and the United Kingdom. It is built on the River Sherbourne, which remains largely hidden by infrastructure, although it can be seen by the canal. Coventry has been a large settlement for centuries, although it was not founded and given its city status until the Middle Ages; since then it has been one of the most important and largest cities of the country. The conurbation consists of the Coventry and Bedworth Urban Area, being the 20th largest in the country; the city is governed by Coventry City Council.
Historically part of Warwickshire, at the 2011 census Coventry had a population of 316,915,[6] making it the 9th largest city in England and the 11th largest in the United Kingdom.[7] It is the second largest city in the West Midlands region, after Birmingham, and is separated from the West Midlands conurbation by the Meriden Gap.
Coventry is 19 miles (31 km) east-southeast of Birmingham, 25 miles (40 km) southwest of Leicester, 11 miles (18 km) north of Warwick and 94 miles (151 km) northwest of London. Coventry is also the most central city in England, being only 12 miles (18 km) south-southwest of the country's geographical centre in Leicestershire; it is located in the West Midlands.[8][9]
The current Coventry Cathedral was built after most of the 14th century cathedral church of Saint Michael was destroyed by the Luftwaffe in the Coventry Blitz of 14 November 1940. Coventry motor companies have contributed significantly to the British motor industry. The city has three universities, Coventry University in the city centre, the University of Warwick on the southern outskirts and the smaller private Arden University, with its headquarters close to Coventry Airport.
On 7 December 2017, the city won the title of UK City of Culture 2021, after beating Paisley, Stoke-on-Trent, Swansea and Sunderland to the title. It will be the third title holder of the quadrennial award which began in 2013.[10] In July 2020 it was announced that the City of Culture festivities would not commence until May 2021 and conclude in May 2022 due to preparational and infrastructural delays caused by the COVID-19 pandemic. Following this Coventry City of Culture Trust released a manifesto film[11], celebrating the city of Coventry and announcing the brand for Coventry UK City of Culture 2021, 'Coventry Moves'[12].
