60-second interview: Michael Parkinson

Why did you decide to return ?to Macfarlanes in October?

Macfarlanes is my professional domicile of origin. The firm has a strong culture, which is very adhesive, and I’d retained close working and personal links here. I was happy at Russell-Cooke, but when the opportunity to return emerged, it ?was too powerful to resist.

?What attracted you to the ?firm originally?

I read law at Durham and particularly enjoyed equity and trusts and company law. I didn’t immediately pursue a career in law. I’d worked in a variety of roles at Westminster Cathedral during my gap year and university vacations and spent a further two years there after I graduated.

However, once I’d decided to apply for a training contract, Macfarlanes was at the top of my wish list with its reputation for both private client and corporate work.

By coincidence, a solicitor in the private client department here had left to begin training as a Catholic priest. I was quizzed pretty hard about whether I had similar aspirations – I’d just got engaged so was able to persuade them that I didn’t.

Double scoop It took Macfarlanes 20 years to make a lateral private client hire then there’s been two in 2013. John Conder, head of private client, explained: “These are a direct result of growth in demand, particularly from an international perspective, and we need more resources to support that ambition. Both Charles [Gothard] and Michael trained here, so they were the ideal candidates as we take the practice forward.”

What Macfarlanes memory stands out?

Acting for the executors in a high-value contentious probate matter where the deal struck between the protagonists needed court approval under a variation of trusts order.

The case was set down for a full day’s hearing and preparation was a major exercise in logistics with various classes of beneficiaries needing representation. On behalf of the executors, we coordinated the application and the various submissions over several months.

The various parties, with their solicitors and counsel, duly squeezed into the courtroom and the atmosphere was pretty tense. The judge entered, immediately made the order sought and closed the proceedings.

What key trends are you watching at the moment?

The recent assault on enveloped high-value residential property and the resulting shift from structures into direct beneficial ownership is bringing many non-domiciled clients within the scope of UK inheritance tax and probate procedures for the first time. So in the longer term, there will be more demand for UK estate administration expertise.

Cross-border succession issues generally are increasingly common. Although the UK has opted out of Brussels IV (the EU succession regulation), it will still be relevant to estates that have connections both to the UK and to a member state that is bound by the regulation. Debate still rages about the effect of Brussels IV where there is a reference to UK law.

Given the ambiguity in the drafting, I suspect that the uncertainty will continue for some time after the regulation comes into force in August 2015.

How did you manage your biggest private client challenge?

The biggest challenge we face as private client lawyers is ensuring that clients understand our advice and make properly informed decisions about the steps they take in structuring their affairs. It’s an obvious point but I’ve had many new clients come to me who plainly hadn’t had their existing wills or trust structures properly explained to them.

The work we do is often very technical, but there’s no added value in just presenting an accurate analysis that the client won’t understand. You have to put yourself in the client’s shoes, cut through the underlying detail and make the advice genuinely intelligible and practical – that’s much more difficult than just getting the technical stuff right.

Who’s your greatest mentor?

John Rhodes encouraged me to qualify into private client when he was the head of department here. His enthusiasm for the work and his commitment to his clients made a deep impression.

 

Michael Parkinson is a partner at Macfarlanes

Jennifer Palmer-Violet is acting editor of Private Client Adviser