A succession plan for a business is akin to a Will for a business. It will set out how the business will continue to operate in the event of a business owner’s death or incapacity. In particular, a business plan will ensure the right people are appointed to take over the business and continue its operation.
Business succession plans are often overlooked but it is critical that a business owner’s personal Will and estate plan aligns with their business succession plan to limit disputes, deadlocks and to ensure that one plan does not undermine the other.
Combining expertise in Wills and estate planning, estate administration, business law and taxation, we work alongside our clients’ and their advisors to advise on and implement tailored business succession plans to ensure the continued operation of their businesses in the event of death and incapacity.
We work closely with our clients and advisors to prepare, review and advise upon:
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