Whether you work in a family company or a large trading organisation, those at the top must always have regard to the succession of the business. The considerations are frequently different depending on the specific circumstances of the company and the directors or shareholders.
When reviewing the succession plans for your business, it’s important to consider all the options and their implications. Rather than looking at things in isolation, it’s how it will work for the business and for individuals personally that’s really key.
We have particular expertise in advising family businesses on succession planning.
Our team of experienced commercial lawyers will help you consider the options sensitively and commercially. We can guide you through the process of looking at corporate structures, trust arrangements and partnerships.
We also work closely with our individual succession planning team to manage inheritance tax liability and to ensure the distribution of wealth to future generations as desired.
Within trading companies, there is often a funding requirement arising from succession. Identifying the right directors of the future and ensuring that they have a stable business to run can sometimes mean a flexible approach to funding. Alongside your bank, we can help to consider different funding and securing options.
Funding may also come from private sources and we have expert technical skills to advise you on the possibilities of issuing new shares, share options, buybacks of shares and new issues of shares.