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Long Term Wealth & Succession Planning for Business Owners

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As the owner of a business it will be important to ensure appropriate arrangements are in place should something happen to you.  In these circumstances have you thought about:

  • Who will continue to run the business?
  • Do you intend to pass the business or your share of it to a particular family member?
  • Will that family member continue to run the business or do you simply want them to have the cash value?
  • Do you have co-shareholders or business partners who will want to continue to run the business? Will they have funds to buy out your share or will they have to run it with your family?

We can consider questions like these with you and advise on the options available to achieve your wishes regarding the future of your business. This planning may involve key man insurance, cross option shareholder agreements, trusts, life policies or pension death benefits. We will involve colleagues in our commercial department and also work closely with other professional advisers such as independent financial advisers.

Your business may qualify for Business Property Relief and so our advice will also include structuring your Will and any lifetime planning to maximise this valuable Inheritance Tax relief.

You may also own premises or other assets which are used as part of your business. The way in which you own these assets can have tax implications. Our team can advise on this and can also discuss with you how these assets are to be dealt with under your succession plan.

For further information or advice, please contact Alison Hall on 0191 232 8345 or email Alison.Hall@hay-kilner.co.uk

Testimonials

  • "Every time I think of a lawyer I can only think of you Alison and Hay & Kilner!!! However both my wife and I look upon you as a friend more than a lawyer so many thanks for your help."

    - Client of Alison Hall

  • "I have always found the staff at Hay & Kilner friendly and helpful. I have recommended the firm to friends."

    - Client of Emma Etherington

  • "As our legal adviser in relation to wills we found Alison Hall's service exceptional in terms of: her personal ease of engagement; her sensitivity to meeting our particular needs; her competence and her expression of integrity. We feel she is a very good ambassador for Hay & Kilner. We also found Alison's administrative staff, Louise Barnes and Elaine Knox particularly helpful."

    - Client of Alison Hall

  • "I have been a client of Hay & Kilner for many years. They have been unfailingly efficient, helpful and courteous."

    - Client of Hay & Kilner

  • "We have been happy with their depth and breadth of knowledge as well as their ability to understand where other professionals are coming from."

    - Chambers Guide

  • "Their performance has been very impressive. What I like most is that their advice is down to earth and practical."

    - Chambers Guide

  • "We now know that writing a Will can be very complicated and requires an expert understanding of the law in order to have your wishes met. Hay & Kilner provided this service to us."

    - Client of Hay & Kilner

  • "We have been dealing with Hay & Kilner for many years and have always received excellent service and advice. We always make Hay & Kilner our first stop for our legal needs."

    - Clients of Hay & Kilner

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