All articles by Rachel Mainwaring-Taylor

Home

Building Better Boards in Family Companies

4 min read

The role of the board and the increasing challenges faced by directors are much talked about these days in the light of various high profile scandals, the effects of the pandemic, changes in working patterns, the increasing burden of regulation and economic uncertainty. The board of a family company may not attract as much public attention as a listed company, but it faces the same challenges as any other board and possibly even more, given the involvement of the family in the business. Make-up of the Board The make-up of the board is...

Read More

Rachel mainwaring-taylor, board of directors, family business

Vision, Philanthropy and the Next Generation

3 min read

We all know the phrase “rags to rags in three generations”. This cliché encapsulates the challenge for wealthy families in getting the next generation to engage with the family assets, whether they be a business, a property portfolio, an art collection or something else. Other challenges include showing them how to steward them responsibly so that they are maintained and increased for the benefit not just of the current family, but also of future generations. This should be part of the normal process of succession planning, but obstacles...

Read More

Rachel Mainwaring-Taylor, Philanthropy, Family business

A short introduction to succession planning for your business

3 min read

An entrepreneur who builds up a successful business will naturally want to make sure that their life’s work continues to flourish after they are gone. They may not want their heirs to fight over it, dispose of it or even liquidate it if they cannot agree. Just like planning what to do with one’s personal estate and making specific bequests in a will, the entrepreneur needs to plan for the future of the business. Succession planning for your business In the worst-case scenario, which we see surprisingly frequently in practice, an...

Read More

succession planning, rachel mainwaring-taylor

Why should I make an English Will?

5 min read

Why should I make an English Will? Surely I don’t need a Will if I want everything to pass to my partner and/or children? This is a common assumption of people who come from civil law jurisdictions, where the general succession laws often reflect how most people want to leave their assets and making a Will may be less usual. In England, our intestacy rules, which apply if there is no valid Will, rarely reflect what people want to happen. They can result in unnecessary charges to inheritance tax, unsuitable provision for children, potential...

Read More

English will, Will, UK, inheritance, children, testament