Succession Planning for Businesses
Planning for who will take over the business when the business owners retire or die is fundamental to the long-term future of a company’s operations and to maintain an effective leadership structure.
We act for lots of family-owned businesses, where there are natural successors. However, the very nature of family relationships means that discussions on what will happen after that retirement or death are often not documented properly or at all.
How can we help you?
Our team of commercial lawyers can:
- explain the issues involved and advise on how to plan for the smooth succession of your family (or others) to the business with minimum business disruption;
- draft appropriate shareholders' agreements and bespoke articles of association to allow for a smooth transition of control; and
- work in conjunction with your tax advisers to provide for succession planning in a tax efficient way.