You have worked hard to build and develop your business but at some point you will leave it. Whether that is to retire or because you become incapacitated or die, have you considered what will happen when you leave your business? We provide expert business succession planning advice to owner-managed businesses and entrepreneurs. We give you more certainty about the future of your business.
With owner-managed businesses there are often other family interests to consider. How do you treat your children equally if you want only one to inherit your business? How can you protect your business if your child gets divorced?
Most people assume that shareholders’ shares will be passed down to the beneficiaries of your will. However, this can only happen if the company documentation allows it.
If you have business interests your Will cannot be drafted in isolation. It must take your business into account. We ensure a solution is developed to meet the individual needs of our clients and can include some of the following:
- Drafting bespoke Wills
Reviewing and updating company articles of association, partnership and shareholders agreements
- Cross Option Agreements
- Pre and Post marital agreements
- Careful use of trusts
- Creation of Family Investment Companies (FICs)
- Continuity planning – business specific Lasting Powers of Attorney (LPA)
- Exit planning – actively planning ahead/succession planning
Our expert lawyers will work with you to ensure your business as well as your family is protected. We'll also make sure your wealth is passed on in the most secure and tax-efficient way.
Our solicitors are well placed not only to provide legal services but to also work with other professional advisors. We combine our legal advice with accountancy and financial services to provide timely, practical and bespoke solutions.
Our business succession planning team includes the previous head of Private Client Estate Planning at PricewaterhouseCoopers Legal. Therefore, we have extensive experience helping business owners plan for their business exit.