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FIC Fit Check
A quick-fit check to understand whether a family investment company discussion may be relevant.
Family investment companies (FICs) can be powerful tools for estate planning and asset protection. This fit check helps UK high-net-worth individuals assess whether an FIC may be relevant to their circumstances.
Who this is for
- •UK high-net-worth individuals with estates above £500,000
- •Families with multiple dependents requiring structured wealth transfer
- •Business owners seeking to protect and transfer business assets
- •Property investors with multiple holdings
- •Individuals requiring asset protection and tax planning structures
What you'll get
- •An indicative assessment of whether an FIC may be relevant
- •Understanding of factors that influence planning structure suitability
- •Insight into estate complexity and planning priorities
- •A starting point for professional planning discussions
- •Clarity on when specialist advice may be beneficial
Frequently asked questions
What is a family investment company (FIC)?
A family investment company is a corporate structure often used for long-term family wealth planning. It can support governance and control across generations, but suitability depends on your objectives, tax profile, and implementation costs.
Are FICs only for very wealthy families?
While these structures are often used by high-net-worth families, they can be relevant for estates of various sizes, particularly where there are complex family situations, business assets, or specific protection needs. Professional advice can help determine suitability.
What are the main benefits of these structures?
Potential benefits can include inheritance tax planning, asset protection, controlled wealth transfer, tax efficiency, and family governance. However, the specific benefits depend on your circumstances and the structure chosen. Professional advice is essential.
How long does it take to set up an FIC?
The timeframe varies depending on complexity, but typically ranges from several weeks to a few months. This includes legal documentation, tax planning, and regulatory considerations. Early planning allows for more options and better outcomes.
What ongoing responsibilities are involved?
FICs require ongoing administration, compliance, and annual filings. Directors have legal responsibilities. Professional support is typically needed to ensure proper management and compliance.
Can I change or unwind these structures later?
This depends on the specific structure, terms, and circumstances. Some structures are more flexible than others. It's important to understand the implications before establishing them. Professional advice can help you understand your options.
When should I seek professional advice about an FIC?
Professional advice is recommended if your estate exceeds nil-rate band thresholds, you have business assets, multiple properties, or complex family circumstances. Early consultation allows for better planning and more options.
Related service
For personalised advice tailored to your circumstances, explore our Trusts Fic Planning service.
Ready to discuss your situation?
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