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 Worth Guide ranks 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.  The team is also ranked by Legal 500 UK.  Both guides are leading independently researched guides to the legal profession.