Business succession planning Solicitors
Keeping your business in safe hands
Business succession planning is an important part of preserving your professional legacy
Succession planning is your opportunity to shape the future of your business and ensure the legacy of your hard work. Whether you’re thinking about selling to a third party, transitioning ownership to your management team, or passing the reins to the next generation, planning ahead is the key to achieving your goals.
At its core, succession planning is about preparing for what’s next. It means identifying who will take over when the time comes, putting clear strategies in place for a smooth transition, and ensuring your business continues to thrive. It’s not just about continuity; it’s about building a legacy.
Planning early has its rewards. It helps maintain stability, retain top talent, and build confidence among your employees, clients, and stakeholders. Instead of being caught off guard by sudden changes, you’ll be ready to embrace the opportunities they present.
Family businesses, in particular, can benefit from thoughtful planning. Aligning both business assets and personal wealth ensures the best outcome for everyone involved and helps prevent potential misunderstandings down the line.
Whether you’re preparing for retirement, exploring exit strategies, or simply planning for the unexpected, succession planning is a practical and empowering step.
Wherever you are on your journey, our legal advisors can help. Call us today on 0330 024 0333 or use the button below to complete our contact form.Our Business succession planning team
Suzanne Leggott
Partner & Head of Private Wealth
Hannah Tait
Partner
Lesley Davis
Partner
Sarah Brack
Partner
Verity Kirby
Partner
Elaine Hart
Legal Director
Emma Carr
Legal Director
Harman Bains
Legal Director
Lilly Toop
Legal Director
Victoria Taylor
Legal Director
Ben Sharp
Associate
Kuldeep Chauhan
Associate
Lauren Crowhurst
Associate
Paul McMaster
Associate
Clare Hopkins
Consultant Solicitor
How our Business succession planning experts can help
Transaction support
Selling or transferring a business involves significant legal documentation and negotiation. Our team specialises in preparing contracts for mergers, acquisitions, and trade sales. We ensure all agreements are legally sound, protect your interests, and set clear terms for the transaction. For business owners exploring options like stock market flotation, we can guide you through the regulatory requirements, providing comprehensive legal support to help you achieve a successful outcome.
Corporate structuring
Succession planning often involves restructuring a business to ensure a smooth transfer of ownership. Whether you’re considering a management buyout, an employee ownership trust, or selling to a third party, we provide expert legal advice to draft and finalise the necessary agreements. Our team works closely with you to ensure the transition aligns with your goals, values, and long-term strategy. From shareholder agreements to restructuring plans, we’ll help you manage the legal complexities, giving you confidence that your business is in the right hands.
Corporate tax and financial planning
Effective succession planning requires careful tax and financial strategies to protect your wealth and maximise the value of your business. We help you explore tax-efficient structures like trusts, share options, and deferred payments to reduce liabilities and optimise outcomes. For family businesses, we provide tailored inheritance tax planning advice, ensuring your succession strategy preserves your legacy while benefiting future generations.
Employee considerations
A successful succession plan should consider the impact on your employees. Whether transitioning to an employee ownership trust, or ensuring workforce stability during a trade sale, we provide tailored legal solutions to support your team. We will help draft employee benefit schemes, contracts, and compliance policies to protect your business and its people.
Dispute resolution
Disputes can arise during succession planning, whether from disagreements over valuations, ownership, or leadership roles. Our dispute resolution team offers practical advice and mediation services to address conflicts swiftly and effectively. We aim to preserve relationships while protecting your business’s interests, ensuring the process stays on track. Whether it’s resolving family disputes or navigating contractual disagreements, we work diligently to find solutions that minimise disruption and uphold your legacy.
Wills and estate planning
Your business succession plan should align with your personal estate planning. Our experienced solicitors can help you draft wills that reflect your wishes, ensuring both business and personal assets are passed on as intended. We provide comprehensive advice on inheritance tax planning to minimise liabilities and protect your family’s wealth. By addressing these crucial details, we ensure your business and loved ones are looked after, giving you peace of mind about the future.
Trusts
Trusts can play a vital role in managing business assets during and after succession. We advise on setting up trusts to protect your family wealth, ensure fair distribution of assets, and secure your business’s future. Whether you’re considering a family trust to support intergenerational leadership or an employee trust to reward your team, our legal experts provide tailored advice to match your needs.
Powers of attorney
Planning for unforeseen circumstances, such as illness or incapacity, is an important part of succession planning. We will assist in setting up lasting powers of attorney, allowing trusted individuals to make decisions on your behalf. Whether it’s managing business operations or personal matters, our team ensures these legal arrangements provide clarity and continuity.
Prenuptial and postnuptial agreements
For business owners, prenuptial and postnuptial agreements can protect the business in the event of a marriage breakdown. We will work with you to draft clear, legally binding agreements that secure your interests and reduce the risk of disputes. Our team balances the need for transparency with sensitivity, helping you protect your business while fostering trust within your personal relationships.
Why choose Shakespeare Martineau?
- No matter whether you’re a sole trader, shareholder, or owner of a family business, ensuring you have a viable succession strategy is crucial
- Our succession lawyers have developed effective succession strategies for a whole range of businesses over the years, and we always take a bespoke approach tailored to each individual business. Understanding our client’s needs and goals stands us in good stead to advise you effectively, taking into account your goals, concerns and your business needs
- Our team has all of the expertise you need to plan your succession and will always be on hand to advise you on a wide range of issues
Business succession planning frequently asked questions
Business succession planning is the process of preparing for the future of your business when you step down or can no longer lead. It ensures a smooth transition by considering tax-efficient succession routes like dividends, employee ownership, or trusts. Key steps include aligning your will with shareholder agreements, estate planning, and legal documentation to secure your business’s future. Planning early helps minimise tax liabilities and ensures your business continues or concludes according to your wishes.
What our clients say about us
How the Business succession planning process works
Not everyone is aware of how the process of engaging Business succession planning solicitors works, so we’ve provided an overview below to give you some peace of mind
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The first stage is to get in touch with us using the button below – you will then be assigned to one of our Business succession planning specialists. Alternatively, you can reach us on 0330 024 0333.
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You’ll then receive a free 15-minute consultation within 24 hours via Zoom or telephone to discuss the issues you’re facing.
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You are then provided with a transparent breakdown of our costs and, if you would like to proceed, we send you a pack of onboarding documents
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Following this, we will guide and support you through the process of achieving a resolution that works for you and your family.
If you’d like to speak to a member of our team, please fill out the enquiry form. We will aim to reply to your query within 2 hours
Need to talk to someone sooner? You can call use at the number below
Call Us: 0330 024 0333
Featured Private Client services
Estate Administration
From obtaining the Grant of Representation to calculating the correct inheritance tax liability and distributing the estate to the correct beneficiaries, we will support and guide you through the complex process of administering an estate when a loved one has died.
Powers of Attorney
No matter what age you are, making considerations about how your financial affairs and medical needs will be met if you lose capacity in the future is important. We can help you put a plan in place that works for you and gives you peace of mind.
