Ikhlas acts for businesses and high net-worth private clients, providing advice and expertise in respect of the UK (and quite often worldwide) succession planning requirements.
His specialisms include the preparation of wills, Islamic wills, lasting powers of attorney, setting up and management of various trust structures, contentious probate and strategies to mitigate inheritance tax.
Ikhlas also advises clients who originate from the Middle East and South Asia, ensuring that the various legal, cultural, religious, practical, jurisdictional and domicile considerations are considered and balanced with overall planning objectives.
Work highlights include:
- Assisting a large South Asian family living in the UK, in rectifying historic and undocumented property agreements while retaining family and business prosperity in the process. This advice enabled a saving of about £1.2m which would have otherwise been payable in inheritance tax.
- Supporting a large Arab family living in the UK with their estate planning needs, while balancing UK legal and tax rules with religious and cultural wishes. The planning enabled inheritance tax savings of about £11m.
Ikhlas is a Dementia Friend and often speaks to groups about mental capacity issues he sees on a day to day basis, as he feels more needs doing to promote awareness about this issue, especially within the South Asian community.
Yorkshire Asian Business Association – presentation on ‘inheritance planning for the UK South Asian community’.