Family Succession and Governance
Succession planning can be complicated in a family business context because the relationships are not purely business and therefore emotions can become involved. However, to ensure the continued success of your business passing to the next generation it is important to start planning early to ensure sufficient time to get the right advice, consider all the options, get the family on board and to have all the elements lined up to ensure a smooth transition when the time it right.
Recent work highlights
- Advised family owned property development group on steps implementation of steps to facilitate the eventual passing of control to the next generation.
- Advised a sibling owned business on reorganisation to resolve differences with regard to the future of the business.
- In conjunction with drafting client’s will, implementing shareholding changes to facilitate the orderly passing of business interests in accordance with the terms of the will.