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.

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
A group of HCR lawyer from an array of teams

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.

Recognition of our work

Legal updates and thought leadership

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Hear what our clients say about us

Lucy has recently drawn up LPAs and wills on behalf of me and my wife Joy.

Throughout she was extremely professional, very personable and explained the unfamiliar complexities of legal jargon in layman’s language, crafted in our best interest.

Lucy is a first class ambassador for your firm and henceforth our default setting for legal assistance. Thank you.

Client Testimonial LPA and Will Drafting

Georgia has been nothing shy of brilliant in terms of keeping me and my brother up to date with all matters – responding efficiently and providing guidance. The work needed to be exceptional and completed professionally and with pace. Georgia delivered that and more.

I value her expertise, she is an asset to the firm and one I will keep in mind for future opportunities.

Client Probate and Land Registry Updates

It has been really reassuring to have your help and professional expertise to take us through the process of resolving the trusts our Dad had set up. You explained everything clearly and enabled us to choose the right solution. You and everyone we engaged with at HCR have consistently been highly professional, caring and supportive.

Client Advice on Trusts

I’ve received a first-class service from HCR’s Private Client team.

I’m exceptionally pleased with the work that has been carried out for me.

Mrs S Estate Administration

I wanted to write and thank you for what you did today. I think you must have the patience of a saint!

I am amazed, to be honest, that you managed to lead this task to a conclusion, I doubted the possibility of it for quite a while!

Client Lasting Power of Attorney

Thank you so much for your helpful advice and for the amazing kindness that you are showing towards me – for which I am so grateful for.

Thank you.

Client Financial abuse

I am so happy with the way in which you handled matters right from the start.

Life is so much easier for me now.

Mr E Lasting Power of Attorney

It’s been a great reassurance to have such expert and reliable help.

Client Older and Vulnerable People

I found Tonina was most approachable and prompt to answer calls.

Client Will, Trusts & Estates

Lauren came to hospital to assist me with getting my will in place. Thank goodness for Lauren, she attended to me with fully drawn-up papers within 24 hours of my instruction, which I was so grateful for as my health was declining fast.

Mrs C Wills & Power of Attorney

I was very impressed with Lauren’s enthusiasm for her work, her professionalism and knowledge of law. She also shows a pragmatism that belies her age. In short, she is a credit to HCR.

Mr K Will, Trusts & Estates

I have never had the pleasure of working with a solicitor so responsive, clear, practical and on top of everything. Thank you for that.

Mr Glynn Probate

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