Family Businesses & Succession

We advise the owners of family businesses on planning and managing the transition of ownership to the next generation.  Dealing with this in a considered way can reduce the risk of family and business disputes, as well as maximising tax efficiency across the family.  We ensure our advice reflects the family’s priorities and objectives for the long term preservation of the family’s wealth.

This might involve some or all of the following:

• Inheritance tax advice.
• Negotiation and documentation of a family charter or constitution.
• Will planning.
• Measures to minimise the impact on the family business of possible divorces.
• Ownership structures including trusts and family investment companies.
• Trust arrangements around insurance products for example, cross-option agreements or key man policies.

The current edition of Chambers High Net Work Guide, a key publication for the international private wealth market, has ranked the Trust, Wills and Estates team in Band 1 for private wealth law (York, Hull and surrounds).  In addition, the team is recognised in the guide’s National Leaders (outside London) rankings for the first time this year (2021).  Chambers is one of the leading independently researched guides to the legal profession.  The team is also ranked by Legal 500 UK.

“…they are an outstanding team, staffed with charming, talented and highly professional individuals. They are unfailingly a pleasure to deal with from our perspective.” …“The team are extremely proficient, knowledgeable and helpful with their clients.”    Source: Chambers High Net Worth Guide 2020 (Private Wealth Law)