Shoe Dog is Phil Knight's candid memoir of building Nike, and it is more useful to business owners than most business books because it does not flatter the process. Knight shows a company that looked successful for years while being genuinely close to collapse, kept...
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TLDR: Cash Flow Versus Profit: Why Profitable Businesses Run Out of Money
Profitable businesses can still run out of cash because profit and cash are measured differently: profit counts income when earned, cash counts money when it actually arrives. The cash conversion cycle — the time between paying for stock or wages and being paid by...
Property Abroad? How Your UK Will Can Cover Your European Home
A holiday home in Spain, an apartment in France, a farmhouse in Italy — for many British families, owning property abroad is the reward for decades of hard work. It also raises an entirely reasonable question: can a UK Will actually deal with it? For property in...
TLDR: Property Abroad? How Your UK Will Can Cover Your European Home
Yes — a UK Will can deal with a property you own in Europe. Under the EU Succession Regulation, known as Brussels IV, a British national can elect in their Will for the law of their nationality to govern their whole estate, including a home in France, Spain or Italy....
TLDR: Gifts Out of Surplus Income
There is an Inheritance Tax exemption that works immediately, with no seven-year wait and no cap: gifts made from normal expenditure out of income. To qualify, a gift must come from income (not capital), be regular or habitual, and leave you able to maintain your...
Cash Flow Versus Profit: Why Profitable Businesses Run Out of Money
Every year, profitable businesses close their doors not because they stopped making money, but because they ran out of it. It is one of the great paradoxes of running a company: the profit and loss account can show a healthy surplus while the bank balance tells a very...
Deeds of Variation: How a Will Can Still Be Changed After Death
Most people assume that once someone has died, their Will is fixed and final. In most cases that is true, and it should be — a properly drafted Will is meant to be the last word on how an estate is shared out. But UK law does allow for one important exception. Within...
The Bookshelf: Shoe Dog by Phil Knight — What Nike’s Founder Teaches Business Owners About Exit and Legacy
Every few months on The Bookshelf, we pick up a book that has nothing to do with Wills, trusts or probate on the surface, and everything to do with them underneath. This month it is Shoe Dog, Phil Knight's 2016 memoir of building Nike from a car boot importing...
The Estate Planning Checklist UK Families Need
A well-prepared estate planning checklist UK households can follow is not just about deciding who receives money when you die. It is about keeping control if you lose capacity, protecting a property portfolio or business, reducing avoidable delays and giving your...
Free Estate Planning Guide
Learning how to protect your assets can feel like an overwhelming topic. Our FREE Estate Planning Guide will help you to understand the process and how to get started.