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.
York is a cathedral city in North Yorkshire, England, with Roman origins, sited at the confluence of the rivers Ouse and Foss. The city has many historic buildings and other structures, such as a minster, castle, and city walls. It is the largest settlement and the administrative centre of the wider City of York district. It is located 27 miles (43 km) north-east of Leeds, 90 miles (140 km) south of Newcastle upon Tyne and 207 miles (333 km) north of London. York's built-up area had a recorded population of 141,685 in 2021.[1]
The city was founded under the name of Eboracum in 71 AD. It then became the capital of the Roman province of Britannia Inferior, and later of the kingdoms of Deira, Northumbria, and Scandinavian York. In the Middle Ages, it became the northern England ecclesiastical province's centre, and grew as a wool-trading centre.[2] In the 19th century, it became a major railway network hub and confectionery manufacturing centre. In the Second World War, part of the Baedeker Blitz bombed the city. Although York was less targeted during the war than other, more industrialised northern cities, several historic buildings were gutted and restoration took place up until the 1960s.[3]
Historic local governance of the city was as a county corporate, not included in the county's riding system. The city has since been locally governed as a municipal borough, county borough, and since 1996, a non-metropolitan district (the City of York), which also includes surrounding villages and rural areas, and the town of Haxby. The current district's local council, City of York Council, is responsible for providing all local services and facilities throughout this area.
Latest jobs
- Field Sales Executive - York
-
Job location: York
Job salary: £25k + Uncapped Commission (Paid Monthly) + New Car + Extensive Health Benefits + 10% Pension + a raft of benefits
York - £25k + Uncapped Commission (Paid Monthly) + New Car + Extensive Health Benefits + 10% Pension + a raft of b...
- Lead Generator - East Riding OR South Yorkshire
-
Job location: South Yorkshire
Job salary: 23, 400 + £8, 000 commission potential (OTE up to £32k) + car + extensive health plan and benefits.
East Riding, West Yorkshire, North Yorkshire, Lincolnshire, or North Lincolnshire - Basic £23,400 + up to £8,000 com...
- Community Sales Executive – North Yorkshire
-
Job location: North Yorkshire
Job salary: £25k + UNCAPPED commission (paid monthly) + new car + extensive health benefits + 10% Pension - New car + Extensive Health Benefits + 10% Pension + 25 Days Holiday + Bank Holidays + 5 extra days off for special occasions + more!
North/South Yorkshire - Basic Salary £25k + UNCAPPED commission (paid monthly) + new car + extensive health benefits ...