Succession and Retirement Planning for Owner Managed Businesses

Creating and running a business can be hard work and rewarding in equal measure. When the time comes to step back and wind down, planning your succession will be critical to both your own retirement and the continuing success of the business.

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Three members of our private client team

Supporting your succession strategy

Our specialist team of lawyers have decades of experience advising business owners on their succession plans. We understand the needs of owner managed businesses and support owners with a range of potential issues including managing family dynamics and discussions around who continues to play a role in the business.

Keeping ‘business as usual’ and maintaining stability for those still in the business can involve appointing another majority shareholder to maintain overall control. We advise on the legal documentation and structure to support this as well as communicating your wishes to key stakeholders and family members.

Working closely with colleagues, we support business owners to protect business assets in a variety of situations including claims relating to divorces or disagreements between family members and other interested parties. This often  includes support with drafting wills and lasting powers of attorney to ensure your estate passes on according to your wishes and that your business affairs are managed as you intended if you are incapacitated.

We understand the length of time needed to prepare a business for change and will work with you to put an effective strategy in place. From pre-exit tax planning to trusts and family investment companies, we’re with you every step of the way.

Our Private Wealth sector

Clients who have built a significant assets base may face a complex legal and tax landscape. Our experts, who cover a range of legal disciplines, are on hand to provide specialist legal guidance and support to help individuals, their families, trustees and family offices.

Services from our Private Wealth team
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Working with you

As an award-winning firm, recognised in many areas including corporate and private client advice, we have the expertise and capacity to support your needs. Our lawyers are true specialists in their field and work closely with colleagues to provide the support you need as you exit your business.

Business exits often require support from multiple areas including employment, real estate, family, corporate and private client. Bringing in the relevant specialists, we will coordinate everything, so you have a dedicated point of contact.

We have experience of advising businesses in a range of sectors and can also enlist support from colleagues in other teams including construction, agriculture, IP, healthcare and finance.

Our client base is broad, ranging from sole traders to serial entrepreneurs. We often advise founders and business owners as well as individuals and directors with significant stake holdings. We also have the expertise to advise on more complex structures such as partnerships, family offices and the specific needs of agribusinesses.

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Hear what our clients say about us

Michelle Abbott immediately made us feel at ease straight away. She is very professional, friendly and extremely helpful. Michelle guided us through the process, providing clear and easy to understand information. In preparing and completing wills, her legal knowledge and attention to detail is excellent.

It’s been a pleasure dealing with both you and your company and I would not hesitate in using your services again or recommending you to family and friends. Thank you very much for all you have done for us

Client Testimonial Will Drafting

Good, clear advice always delivered in a considerate, and often kind manner, without delay or need for chasing. A pleasure to deal with.

Client Testimonial Will Dispute

Kerri is a pleasure to deal with. She provides very clear advice and is timely in her actions. She listens, understands and answers clearly. Her knowledge and her empathy have put us all at our ease in dealing with our matter.

Client Testimonial The Chambers and Partners High Net Worth Guide 2024

The Chambers and Partners High Net Worth Guide 2024 said: “Kerri Woodrow is very professional and businesslike.” and “Kerri’s service and client management is very good.”

Client Testimonial The Chambers and Partners High Net Worth Guide 2024

HCR has a good breadth of people and levels of experience.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

Harrison Clark Rickerbys provide clear advice and are happy to answer our many questions. The responses are always very timely, and the language used in correspondence is accurate and understandable.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

HCR are highly professional – they are experts, flexible, easily contactable and very responsive. They give fast replies and accurately too – it is a specialist service.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

HCR are professional and focused on clear and pragmatic explanations without resorting to legalese. They offer clarity, timeliness, efficiency and professionalism.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

The HCR team are technically strong, commercially realistic and sensitive, and very good communicators.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

All the advisers from the various specialist departments have displayed strong experience and expertise in their specific areas.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

They have an excellent ability to provide advice in all relevant fields.

Client Testimonial Chambers and Partners High Net Worth Guide 2024

Laura Banks has a very high level of technical knowledge and is able to deal with sophisticated and difficult cases in a very efficient way, but always with client needs at the forefront of her work.

Client Testimonial The Chambers and Partners High Net Worth Guide 2024

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