LEGAL
Law firm supports coaching firm acquisition
The East Midlands corporate team at law firm Shakespeare Martineau played a key role in the multimillion-pound acquisition of a financial coaching business. It supported Adam Price,
the founder of financial planning firm Hatch Financial Planning, throughout the takeover by Octopus Group on all its legal aspects. Hatch, which works with the
Time to focus your mind and plan for your family’s future
Having a will is arguably one of the most important things you can do for yourself and your family, says Satwinder Sidhu (pictured), director of Leicester-based Paradigm Wills. Not only can it legally protect your spouse, children, and assets, he explains, but it can also spell out exactly how you would like things handled after you have passed away.
A will is the most important single document for your family. It will not only give you peace of mind but also makes sure your family will inherit as smoothly as possible and that your wishes are followed because without a will, nobody knows what you want.
IMPORTANCE OF MAKING A WILL If you do not have a will, you have no say over what happens to your assets when you die, and this can cause difficulties for those you care about most. Because of this, everyone should have a will; this is particularly true if you own property, are married, have entered a civil partnership or have a long-term partner. It also applies if you have children or other dependants, or if you wish to leave something to someone who is not a close family member. It is a common belief that, if you are married or in a
civil partnership, your spouse or civil partner will automatically inherit everything you own when you die. In fact, they do not – the law sets out rules that determine how your assets are to be divided if you should die without making a will, which means your spouse may not inherit automatically and children could also lose out on their inheritance if it’s not structured properly. Equally, the rules make no provision for a partner if
you are not married or in a civil partnership, so the only way you can make sure you look after each other is by way of a will.
ASK YOURSELF THE FOLLOWING QUESTIONS IF YOU ALREADY HAVE A WILL: • Is it up to date and relevant? • Does it still say what you want it to say? • Does it protect your home from care costs? • Does it minimise your liability to inheritance tax? • Does it protect your children if your partner remarries? If the answer is no to any of the above, it may be time to act now and review your will.
‘If you do not have a will, you have no say over what happens to your assets when you die’
FACTS ABOUT WILLS
• Dying “intestate” (without a will) means your possessions will be distributed according to the law of intestacy
• In your will, you can appoint a guardian – a person of your choice – to look after your children if they are under 18
• Administering an estate – with a grant of probate and where there is a will – is far quicker and cheaper than without a will
• It is commonly believed that husbands and wives are automatically entitled to inherit everything from each other, but this is not the case
• If you are not married or in a civil partnership, your partner will not inherit from you unless you have a will
• A carefully prepared will – drafted with appropriate trusts – can minimise the amount of inheritance tax paid
• You may want to prevent certain members of your family benefiting from your estate; this can only be done through a will
• You may want to leave something to friends, colleagues or charities; this will only happen if you make a will.
likes of MoneySuperMarket, Sony Interactive Entertainment, Epson, and Experian in offering affordable expert financial coaching, will rebrand to Octopus Moneycoach. Ambitious plans are in place
to grow the business from 30 to 200 employees over the next two years and to bring financial coaching to the mass market, with both AI and human advice services available to customers. Partnering with other
established financial advice businesses already housed within the Octopus Group – one of the UK’s fastest growing financial services companies – Octopus Moneycoach will focus on offering financial coaching and planning to the employees of businesses looking to further support their workforce. Shakespeare Martineau
corporate partner Michael Squirrel, who led the legal support team, said: “It was a pleasure to act for Adam on the sale, playing our small part in this important step forward on Hatch’s mission. The creation of Octopus Moneycoach to complement Octopus’s existing financial services businesses is the perfect next stage for Hatch.” Adam Price, founder and
CEO of London-based Hatch, added: “I am hugely grateful to Michael and the rest of the corporate team at Shakespeare Martineau, whose expertise and guidance made the acquisition as smooth as possible.” The Shakespeare Martineau
team involved in the acquisition comprised Michael Squirrell, Oliver Gutman, Sam Naunton, Oscar Ciaurro and Tait Grundy.
business network May 2021 65
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