Private Client
About the Department
The highly regarded private client practice at Matheson Ormsby Prentice has continued to grow strongly over the past number of years. Our objective in dealing with families and their requirements is to develop an understanding of their immediate and longer-term needs so that they can be fulfilled in a timely and orderly fashion.
The Department specialises in providing tax, estate planning and wealth preservation/asset protection services to individuals and families. We work closely with corporate colleagues to provide integrated tax and legal solutions for families and their businesses.
The Department also advises professional and family trustees on a full range of issues affecting them and their clients and a wide range of charitable bodies in relation to their activities. We pride ourselves on a client-driven commercial approach.
With the introduction of the family law group, we advise on family law issues arising in all aspects of wealth management and tax/estate planning advices.
In 2008, Matheson Ormsby Prentice was the first Irish law firm to be shortlisted for the "UK and Ireland Regional Legal Team of the Year" award at the STEP Private Client Awards 2008/09. The STEP Private Client Awards recognise excellence and innovation among private client professionals and wealth managers worldwide.
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Practice Areas
Estate Planning
The Department takes a lead role in assisting clients to implement their long-term personal and tax strategies. This may be in the form of lifetime gifts or Will-based planning to structure wealth across the generations.
We advise clients in relation to Capital Acquisitions Tax planning, focusing in particular on the tax availability of certain reliefs (business and agricultural assets) and exemptions (certain residential property). We advise on planning and restructuring of businesses as may be required to maximise the available reliefs. We make Wills for our clients dealing with their assets.
We also advise families with foreign investments on estate planning issues in conjunction with their overseas advisors.
Administration of Estates
We administer a wide range of estates for Irish and overseas clients.
We have particular expertise in dealing with complex international estates with assets in numerous jurisdictions and often involving assets of significant value.
The Department is able to draw on its full range of expertise to deal with such cases which often involve complex tax, family and succession issues.
Trust Structuring and Administration
The Department provides trust structuring advice to professional trustees and family trustees. We also have expertise in advising clients residing in or returning to Ireland of the tax consequences of existing offshore trust structures and tax mitigation strategies in relation to those structures.
We have also seen a significant increase in the use of trusts as a means of passing wealth to future generations in a controlled manner.
Additionally, we have also advised a number of pension trustees on the creation of trust structures to provide for dependant beneficiaries under pension schemes.
Trust and Estate Disputes (Contentious Trusts and Estates)
The firm has a dedicated private client litigation team enabling us to provide an integrated and contentious trusts and estates service.
This includes applications to remove executors/trustees and dealing with trust governance concerns. It also includes estate disputes whether involving claims of spouses or children, or issues concerning the validity of a Will, undue influence or creditor claims.
Private Client Property
We advise on all aspects of the sale and purchase of residential properties including agricultural property with associated EU entitlements and advise individuals on mortgages and consequent security requirements.
We have experience in handling tax driven property transactions for offshore trustees and their clients and for domestic pension trustees and their clients.
We provide a full range of advice on planning matters and stamp duty issues.
We also advise on landlord and tenant matters to include the preparation of leases of residential property and on the impact of The Residential Tenancies Act 2004.
Charities
We act on the formation and administration of charities (both corporate and trust) and applications for charitable tax exemption.
We provide a full range of advice to trustees, directors of and members of charitable bodies including regulatory, tax and compliance issues, trustee duties and risk management. We are also advising charities of their expected obligations under the Charities Bill 2007, when passed into law.
We have advised a number of charities in relation to public private projects in conjunction with other colleagues in the firm and the obligations arising under these structures.
The Department is also experienced in dealing with cy-pres applications before the Commissioners for Charitable Donations and Bequests.
Capacity
The Department has advised a number of clients and their attorneys concerning the execution and the subsequent registration of Enduring Powers pursuant to the Powers of Attorney Act, 1996.
The Department also acts for a number of individuals who advise and act as committees for wards of court and provides administration and advisory services in relation to the conduct of the affairs of wards.
The Department has formulated tax efficient trust structures for incapacitated persons.
Family Law
The firm has a dedicated family law group to enhance and supplement our existing provision of integrated advice in all aspects of our clients' lives. Marriage and relationship breakdown can give rise to far-reaching legal, financial and taxation implications which require careful planning and consideration.
Our family law group has extensive experience in all aspects of domestic and international family law, to include separation and divorce, the property and financial implications of marital breakdown, high value complex financial affairs, pre-marriage advices (pre-nuptial agreements) and child cases.
We are conscious of the many effects of family relationships on businesses, partnerships, trusts and pensions and our aim is to adopt a constructive and commercial approach to obtain the best possible result. In addition to acting in many of the leading court cases in this field, we also have wide-ranging experience in negotiating complex settlements and alternative methods of dispute resolution to include mediation and collaborative law.