Article Tag: Succession planning

Being Prepared for the Unexpected Death of a Business Owner

succession planning, unexpected death

Planning for an unexpected death of a business owner is a sobering affair and may not be at the top of the list of priorities. However, putting in place some sensible arrangements could make things run more smoothly when family and business colleagues will be focused on grieving rather than sorting out some emergency measures… Read more »

Succession Planning: Make the Most out of Your Legacy

People sat around a table discussing succession planning for business

Research by Brewin Dolphin revealed that 47% of UK adults have never discussed passing on their legacy, while the National Bureau of Economic Research reports that only 12% of firms make it to a 3rd generation*. Unfortunately, by not taking professional advice on your succession planning, your family may pay out more inheritance tax on… Read more »

Wills for Business Owners – Why Is It Important?

Vicky Timothy, Senior Associate Solicitor in our Private Client team, outlines the main benefits of Wills for business owners and, also, some of the risks you may wish to avoid if you die intestate (without a Will in place). There are many reasons why business owners should ensure that they have a Will in place…. Read more »

Passing a Family Farm onto the next Generation

Many farmers want to pass their farm onto the next generation and to do so as tax efficiently as possible. It is therefore essential that farming families plan carefully for the future of the farm and their business interests, whilst thinking about their long-term aims carefully and with tax liabilities in mind. Farming Families and… Read more »

Succession Planning For Farmers: Top Tips For Getting Things Right

Helen Gowin, Estate Administration & Probate Partner, looks at succession planning for farmers and gives her top tips for getting things right. A good starting place is to consider the historical structure of the farm, and review who currently manages the finances and how roles are defined. Considering and documenting these aspects will help to outline… Read more »